imported 2024-03-17 17:43:06
Top Oil Companies in Libya
Marcopolis.net presents top oil companies in Libya.
Oil and Gas sector (hydrocarbons) have been dominating the Libyan economy and will continue to do so. Libyan oil and gas sector accounts for more than 70% of the GDP, more than 95% of exports and approximately 90% of government’s revenues.
Dr. Mohamed Al Khalifa, Chief Executive of Banagas
We are waiting for a full feasibility study to be completed for what Tatweer’s plans and developments are in future. Then we will hopefully proceed either jointly with Tatweer or one our own if there is more gas available at that time, but the prospect is that there would be extra 150 million standard cubic feet per day.
There has been significant downstream, upstream, and midstream development in Bahrain, such as Tatweer Petroleum drilling 15-18 new wells in Khuff Formation to increase the gas production of the Kindom, increased offshore exploration, the upgrading of Bapco refinery, and a planned US$ 20 billion investment into major oil and gas project. Dr. Mohamed Al Khalifa, Chief Executive of Banagas, discusses these recent developments in the oil and gas sector in Bahrain.
Qaiwan group is a conglomerate involved in real-estate development, downstream oil and gas, oil distribution and trading as well as in electronics trading (sole distributor of Hitachi brand).
Saad Hassan, Vice Chairman of Qaiwan Group of Companies, an operator of the Bazian Refinery near Sulaymaniyah, talks about the expansion plans and the strategy.
Saad Hassan claims any estimates for the growth of oil and gas sector in Kurdistan are going to be surpassed; the growth will be immense. Qaiwan Group is a regional company present in different countries, employing more than 2,000 people. Mr. Hassan’s dream for the company is to get it listed among at least the 100 largest companies in the world in ten years’ time.
Has the Levant struck it rich with oil finds; is the recession on its way out, and soon the much-deserving Lebanese will be living in Emirati style opulence?
For some time the Northern Iraq city and province of Kirkuk has been the political, security and economic fault line between the increasingly autonomous Kurdistan Regional Government, and federal Iraq.
Driving the region’s economy is Kurdistan’s gas and oil reserves, estimated respectively at 100-200 trillion cubic feet and 45 billion barrels, with possibly another 25 billion potential barrels in unproven reserve.
Oil and gas reserves are undoubtedly the most important assets for Iraq’s Kurdistan. According to OPEC, Iraq’s resources of 143 billion barrels of crude oil and 126.7 trillion cubic feet of gas are the fourth largest in the world after Venezuela, Saudi Arabia and Iran. However, Iraq’s oil production is almost half that of Iran, meaning there is plenty of room for growth.
Kurdistan accounts for 43.7 billion barrels of proven oil reserves, 25.5 billion more barrels of unproven reserves and between 3 and 6 trillion cubic meters of gas (30% of Iraq’s proven oil reserves). If Kurdistan was a country, the amount of oil and gas reserves would place it among the top 10 oil rich countries in the world.
