US oil companies return to Libya
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Occidental is the major winner of oil and gas licences in Libya, returning to the country after two decades.
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U.S. private equity firm Carlyle Group   is expected to buy Libya's European oil company  Tamoil, Britain's The Business newspaper reported on Sunday,  citing a source close to the deal.
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Crude oil rose from a three-month low after an attack on the US Consulate in Jeddah, Saudi Arabia, boosted concern that a revival of terrorism might threaten oil shipments from the world&#39;s biggest oil exporter.
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TRIPOLI : Libya set out the contractual framework and tendering terms for oil exploration rights to 15 blocs around the vast desert country as it switches to a transparent bidding process to woo foreign investment for its sanctions-ravaged industry.
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Private investment firm Colony Capital LLC has agreed to pay 4 billion euros ($5.4 billion) for Libya's European oil company Tamoil and Oilinvest.
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Statoil ASA sought government permission Tuesday to resume partial production from two North Sea oil fields after a Nov. 28 natural gas leak shut them down.
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President Bush revoked the United States trade embargo on Libya on Monday and took other steps aimed at eventually establishing normal relations with the government of Col.
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Statoil ASA on Wednesday sought government permission to resume its full 205,000 barrel a day production from two offshore oil fields that were shut down in November after a natural gas leak.
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SIRTE, Libya  - British Prime Minister Tony Blair hailed what he called Britain's transformed relations with Libya after meeting Muammar Gaddafi on Tuesday, while BP sealed a major energy deal with the once isolated North African state.
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TRIPOLI, September 21 (IslamOnline.net &amp; News Agencies) - Libya has welcomed Washington&#39;s lifting of most of the economic sanctions slapped on Tripoli because of US charges of sponsoring terrorism, saying it was in the interest of both countries.
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The British government welcomed the lifting of remaining US economic sanctions on Libya, saying it had played a role in the process by encouraging Tripoli to abandon its weapons of mass destruction.
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British Prime Minister Tony Blair flew in to oil-rich Libya on Tuesday on the start of a three-nation African tour less than a month before he leaves office.
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Libya awarded its first contracts to U.S. companies in 18 years Saturday, handing oil and gas exploration licenses to three American firms to draw a line under decades of international isolation.
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LONDON/NEW YORK  - Private investment firm Colony Capital LLC has agreed to buy a controlling stake in Libyan state-owned Tamoil in a deal that valued the Italy-based refiner at 4 billion euros ($5.4 billion) -- double earlier estimates.
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Tripoli sets outs transparent bidding process for foreign firms to woo investment for sanctions-hit oil sector. By Hassen Zenati - TRIPOLI.
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British energy giant BP is set to announce its return to Libya after an absence of 33 years, Prime Minister Tony Blair&#39;s official spokesman said Tuesday, shortly before Blair took off for the north African country.
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British energy giant BP said that it expected to resume full production by the end of October of 400,000 barrels of oil a day from Prudhoe Bay, the biggest US oil field.