Browsing: Oil & Gas

The Libyan House of Representatives has issued a resolution to form a committee to set up a mechanism for distributing oil revenues according to geographical distribution, population, and oil and gas production and export areas.

Libya has agreed with Eni and BP to begin extracting natural gas from a Mediterranean gas field believed to be bigger than Egypt’s huge Zohr field, the head of the National Oil Company (NOC) told Skynews Arabia on Monday.

U.S. President Joe Biden is once again tapping into the country’s emergency stockpile of oil as the White House tries to prevent gasoline prices from spiking again, reducing the petroleum reserve to its lowest level in four decades, according to a report by Fox News.