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Nov 15, 2011

Nigeria to add three Bonny oil cargoes in December

LONDON, Nov 15 (Reuters) – Three extra tankers of
Nigeria’s Bonny light crude oil stream are due to load in
December, traders said on Tuesday, adding nearly 3 million
barrels to the loading programme.

The three extra cargoes of 950,000 barrels each are expected
to load Dec. 8-9, 15-16 and 25-26, although traders said that
they are waiting for final confirmation of dates.

Nov 14, 2011

Exclusive – Libya data forecasts full crude exports end-2012

LONDON (Reuters) – Libya’s National Oil Corporation (NOC) expects crude exports to rise to 1.345 million barrels per day (bpd) by the fourth quarter of 2012, indicating the OPEC member’s oil is returning to the international market faster than expected.

The NOC made the forecast in a table entitled “Estimated Daily Production,” which was sent to NOC clients and seen by Reuters on Monday.

Nov 14, 2011

Exclusive: Libya sees oil flows by late 2012

LONDON (Reuters) – Libya’s National Oil Corporation (NOC) expects crude production to reach around half of pre-war output as early as December and rise to 1.345 million barrels per day (bpd) by the fourth quarter of 2012, according to an NOC document seen by Reuters.

The document, sent to NOC clients to advise them of supply projections, adds to mounting evidence that the OPEC member’s oil is returning to the international market sooner than many analysts HAD expected.

Nov 11, 2011

N.Sea oil flows to rise 3 pct in December

LONDON, Nov 11 (Reuters) – Crude oil output from nine
North Sea grades is set to rise by nearly 3 percent in December
from the previous month on higher supplies of the UK grade
Forties, trade sources said on Friday.

Output will average around 1.842 million barrels per day
(bpd) compared with a planned 1.792 million bpd in November,
traders said, citing provisional loading programmes.

Nov 10, 2011

Oil rises towards $113, U.S. jobs data helps

LONDON (Reuters) – Brent crude oil prices rose towards $113 a barrel on Thursday, after sharp falls a day earlier, as rallying equities and an unexpected drop in U.S. oil stocks cheered investors despite the spreading euro zone crisis.

Brent crude rose by 18 cents to $112.49 a barrel by 1548 GMT, having fallen nearly $3 the previous day.

Nov 10, 2011

Brent rises towards $113 despite euro zone woes

LONDON, Nov (Reuters) – Brent oil prices climbed toward $113 a barrel on Thursday, after sharp falls a day earlier, as a weak dollar and an unexpected drop in U.S. oil stocks outweighed concerns about the spreading euro zone crisis.

Brent crude rose by 45 cents to $112.76 a barrel by 1050 GMT (5:50 a.m. ET), having fallen nearly $3 the previous day.

Nov 9, 2011

IEA fears oil spike; OPEC dreads European defaults

LONDON, Nov 9 (Reuters) – Oil prices could hit economically
damaging record highs if unrest in Africa and the Gulf cuts
investment in output, the West’s energy watchdog warned oil
producers, which said the real problem was likely defaults among
euro zone members and banks.

The International Energy Agency (IEA), which advises major
oil-consuming countries on energy policies, said on Wednesday
oil prices could spike by a third to above their all-time high
of $147 a barrel. The Organization of the Petroleum Exporting
Countries (OPEC) said the main risks were of price falls.

Nov 9, 2011

Oil could hit $150 near term – IEA

LONDON, Nov 9 (Reuters) – Oil prices could reach $150 a
barrel in the near term if investment in the Middle East and
North Africa (MENA) oil-producing region falls significantly,
the International Energy Agency (IEA) said on Wednesday.

The IEA, adviser on energy policy to major oil-consuming
countries, said world demand for oil would rise steadily over
the next two decades to around 99 million barrels per day (bpd)
by 2035, and investment in new production would have to keep up.

Oct 18, 2011

Libya oil fields face guerrilla war threat

LONDON (Reuters) – Pro-Gaddafi fighters may resort to hit-and-run guerilla attacks against Libyan politicians, foreign workers and oil installations in the remote southwestern Fezzan district if they are driven from their last bastions, risk consultants say.

A full-scale insurgency like the one that erupted in Iraq following the ouster of Saddam Hussein by U.S.-led forces is unlikely, but a determined guerrilla campaign could make life difficult for Libya’s new rulers and foreign oil companies considering a return.

Oct 17, 2011

Analysis: Libya oil fields face guerrilla war threat

LONDON (Reuters) – Pro-Gaddafi fighters may resort to hit-and-run guerilla attacks against Libyan politicians, foreign workers and oil installations in the remote southwestern Fezzan district if they are driven from their last bastions, risk consultants say.

A full-scale insurgency like the one that erupted in Iraq following the ouster of Saddam Hussein by U.S.-led forces is unlikely, but a determined guerrilla campaign could make life difficult for Libya’s new rulers and foreign oil companies considering a return.