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2017-12-13 12:10:00

SIEMENS BUILDS FOR LIBYA

SIEMENS BUILDS FOR LIBYA

PENNENERGY - Germany's Siemens says it has signed contracts worth some 700 million euros ($824 million) to build two gas-powered electricity plants in Libya.

The Munich-based industrial conglomerate said Monday that the plants will be built in Misrata and Tripoli and that the value of the contracts with the state-owned General Electricity Company of Libya includes long-term service agreements.

It said the deal will expand Libya's power generation capacity by about 1.3 gigawatts, but didn't specify in a statement when the new plants will start operation.

The deal comes weeks after Siemens AG announced plans to cut about 6,900 jobs worldwide at its power, gas and drives divisions, half of them in Germany. It pointed to a sharp decline in earnings amid increasing pressure from renewable energy sources.

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Earlier:

LIBYA - OPEC AGREEMENT
2017, December, 8, 17:10:00

LIBYA - OPEC AGREEMENT

BLOOMBERG - With a fragile political accord barely holding the country together, Libya faces an array of challenges preventing its return to the output levels of about 1.6 million barrels a day pumped before the 2011 uprising against Muammar Qaddafi.

 

 LIBYAN OIL PRODUCTION 1 MBD
2017, October, 23, 11:15:00

LIBYAN OIL PRODUCTION 1 MBD

Libya’s oil production increased steeply to the current level of 850,000 b/d from a low point in August 2016 of below 300,000 b/d. Production surpassed 1 million b/d in July.

 

 LIBYA NEEDS $100 BLN
2017, January, 26, 18:45:00

LIBYA NEEDS $100 BLN

Libya froze all new foreign investment in 2011 after the civil war that toppled strongman Moammar Gadhafi. International oil companies such as Total SA of France and ConocoPhillips have long had operations in Libya, and Eni SpA of Italy has found ways to keep pumping even as clashes among warring militias and Islamic State damaged the country’s oil infrastructure.

 

 LIBYA CAN INCREASE
2016, November, 9, 18:50:00

LIBYA CAN INCREASE

Libya, a member of the Organization of Petroleum Exporting Countries, is struggling to boost crude production and exports since the NOC reached an agreement in September with Khalifa Haftar, the commander of forces controlling important oil ports. As a result of the deal, the country was able to ship 781,000 barrels from the port of Ras Lanuf on Sept. 21, the first international cargo from that terminal since force majeure was declared in December 2014.

 

 LIBYA HAS STARTED
2016, August, 9, 18:50:00

LIBYA HAS STARTED

Libya is seeking to boost crude production after rival leaders agreed last month to unify the state National Oil Corp. under a single management. The bulk of the country’s oil infrastructure is either damaged or straddles disputed territory as armed factions fought for control of producing fields.

 

 LIBYAN OIL CONFLICT
2014, December, 14, 02:00:00

LIBYAN OIL CONFLICT

Air strikes by forces loyal to Libya's recognized government on Saturday hit targets near the eastern oil ports of Ras Lanuf and Es-Sider to stop an advance by a rival force, officials said.

 

 LIBYA: KEY TERMINALS REOPENS
2014, July, 7, 17:40:00

LIBYA: KEY TERMINALS REOPENS

Key Libyan oil terminals set to reopen

 

 

Tags: SIEMENS, LIBYA, GAS

Chronicle:

SIEMENS BUILDS FOR LIBYA
2018, July, 16, 10:35:00

CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

SIEMENS BUILDS FOR LIBYA
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

SIEMENS BUILDS FOR LIBYA
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

SIEMENS BUILDS FOR LIBYA
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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