German energy company Wintershall announced plans to build a new oil pipeline that would connect two oil fields in Libya. Wintershall aims to build a 34-mile pipeline that would connect the Nafoora oil field with the Amal oil field. The pipeline has a design capacity of 100,000 barrels per day and has an estimated cost of around $38 million, reports regional business news agency MEED. The German energy company last month said oil production in Libya has reached 70 percent of the level obtained before the country\'s civil war began in February 2011. Wintershall, before the war, was producing around 100,000 barrels of oil per day. The oil fields in question are operated by a subsidiary of the state-owned National Oil Corp. and a joint venture between the NOC and Petro-Canada. Construction of the pipeline is slated for August. It could go into service as early as March 2013. Libya is one of the largest oil-producing countries in Africa. Last year\'s war shut down oil production, prompting calls for the release of strategic petroleum reserves from members of the International Energy Agency.
GMT 22:17 2018 Monday ,22 January
Opec output cuts near victoryGMT 22:57 2018 Saturday ,20 January
the literary canary in India's coalmineGMT 07:11 2018 Friday ,19 January
Oil market heads towards 'smooth rebalancing': OPECGMT 19:07 2018 Saturday ,13 January
Oil hits $70 a barrel for the first time in three yearsGMT 19:07 2018 Saturday ,13 January
Oil hits $70 a barrel for the first time in three yearsGMT 15:44 2018 Saturday ,13 January
Bahrain to host MERTC 2018GMT 18:24 2018 Friday ,12 January
No need to panic over $70 oil price: UAE Energy MinisterGMT 13:21 2018 Friday ,12 January
Kuwaiti oil price up 93 cents to stand at US$66.09 per barrelMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor