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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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US crude stays below $ 40 .. Oil Corporation Libya fear not to implement ports deal

rocky
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US crude stays below $ 40 .. Oil Corporation Libya fear not to implement ports deal Empty US crude stays below $ 40 .. Oil Corporation Libya fear not to implement ports deal

Post by rocky Thu 04 Aug 2016, 7:34 am

US crude stays below $ 40 .. Oil Corporation Libya fear not to implement ports deal -1
US crude stays below $ 40 .. Oil Corporation Libya fear not to implement ports deal


 Reuters / New York-Tripoli-Tehran 

Oil prices remained weak, on Wednesday, for the languishing US crude below $ 40 a barrel and Brent below $ 42 as Inat markets under the weight of a glut fuel supply and economic growth faltering but prices received some support from a weaker dollar. 
At 0651 GMT , futures US crude West recorded Texas intermediate 39.54 dollars a barrel, slightly higher from its previous close and remain well below the level of $ 40 that descended settlement price of the previous meeting him for the first time since April. 
the failed World London Brent crude contracts for cohesion at the level of $ 42 to a record of $ 41.77 a barrel.
said analysts said the dollar 's decline , who lost 2.5 percent of its value against other major currency basket since the peak levels recorded in July July - offers some support to oil markets that make fuel imports cheaper for countries that use other currencies 
that may be fueling demand. 
but they added that oil prices It will be under pressure in the near term because of coming from Libya and rising crude inventories and refined products growing supplies , including those as well as hazy prospects ofdemand. 
the Morgan Stanley on Wednesday "in the last three days , and there were reports of successful negotiations to reopen closed in the eastern oil ports Libya and US air strikes on Daash (organization of the Islamic State) in Sirte. Raises the opportunities to increase production in the near term than 300 thousand barrels per day to 600 thousand barrels per day , "but added that" production growth in the long term still seems difficult. " 
In a related development, President of the National Oil Corporation of Libya said in Tripoli told Reuters that" Foundation , which hopes to increase the country 's production of crude to more than quadruple by the end ofthis year is still wary of the possibility of veto pledges concerning the reopening of the closed ports. " 
It will re - open ports a big step for Libya , which suffered from the chaos since the fall of Muammar Gaddafi 's regime in 2011, cut oil production to less than a quarter of the levels of pre - 2011 amounting to 1.6 million barrels per day. not yet announced the agreement between the government of national reconciliation and guard oil installations to reopen the Ras Lanuf ports and Sidr and Zueitina in the east of the country the details , but the government says it includes an unspecified amount for salaries Guard. 
The oil tank said last Sunday, she welcomes the conquest "unconditional" closed the ports , adding that it would begin work for the resumption of exports from the ports. 
but Mustafa God made ​​the head of the institution expressed doubts about the agreement which warned reward groups that have stopped production ups lack oil Corporation to fund its operational budget. 
he informed the work of God , told Reuters that "according to information that we have no written agreement, we are in the national oil Corporation , we have to work under Libyan law, especially when it comes topayments." 
"Let us not forget that in the past there have been agreements with the oil installations guards, and all those promises overturned by despite receiving significant revenue by hundreds of millions, and we are always going to follow and monitor what will happen because the old path , punctuated by false promises. " 
he said that" there should be regulations are clear and the supervision of the various Libyan institutions and the parliament to monitor payments made ​​to guard oil installations. " 
and the work of God that" Libya 's oil production of about 200 thousand barrels per day at the moment and exports gaunt. " 
he continued , " yesterday 's production was 198 thousand barrels a day, we sent 100 thousand barrels per day to domestic refineries and the rest for exports. " 
He said God made ​​that" production will increase gradually, within two weeks we aim to reach to increase between 150 and 200 thousand barrels per day, and this is of course subject to the money owed ​​to theCorporation 's oil. " 
institution and is in talks with local groups and national oil companies to restart other stalled oil fields like thespark and the bed , which will raise production to 450 thousand barrels per day. 
The making of God , "I'm always optimistic. The situation is difficult, but solvable. "

    Current date/time is Thu 02 Feb 2023, 12:43 pm