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The defeat of Colonel Qaddafi’s ground forces by NATO aviation has opened possibilities for the opposition for restoration of oil exports from Libya. As a result, according to a representative on the economy and oil of "transitional government" of the opposition Ali Tarkhuni, the opposition has already reached an agreement on oil exports under the supervision of Qatar.
"We have agreed with Qatar, and our next shipment will be carried out in less than a week," Tarkhuni said.
He said the rebel government had agreed an oil contract with Qatar, which would market the crude, and that he expected exports to begin in "less than a week".
Tarhoni said he had signed the contract with Qatar recently and that the deal would help ensure "access to liquidity in terms of foreign denominated currency".
The U.S. is the major equipment supplier for Qatar's oil and gas industry, and U.S. companies are playing a major role in North Field gas development.
Originally posted by ncb1010
This whole regime change thing won't help oil prices.
DEFENSE
Qatar's defense expenditures are estimated to be in the range of 10% of GDP. Qatar maintains a modest military force of about 12,000 men, including an army, navy, and air force. The country has a public security force of about 8,000 men, including a coast guard, national firefighting force, air wing, marine police, and an internal security force. Qatar also has signed defense pacts with the U.S., U.K., and France.
US, UK and France are protecting Qatar's Oil Supply.
Originally posted by ncb1010
US, UK and France are protecting Qatar's Oil Supply.
No, Qatar is a large oil exporting country given their small size. They export about a million barrels per day while consuming something like 150,000 barrels/day. Their oil supply is themselves and not Libya.
Originally posted by ncb1010
US, UK and France are protecting Qatar's Oil Supply.
No, Qatar is a large oil exporting country given their small size. They export about a million barrels per day while consuming something like 150,000 barrels/day. Their oil supply is themselves and not Libya.
QATAR
Hyundai to Build 4 LNG Vessels for Qatar Joint Venture Company
Qatar Gas Transport Company and Qatar Shipping will use a joint venture company to own and operate four LNG vessels. The ships are being built by Hyundai and will cost $88.5m each. They will be delivered between 2008 and 2014.
Originally posted by ncb1010
Liquefied Natural Gas isn't oil. Qatar produces a lot more LNG than Libya does and so that can account for them contracting ships to move it around.
Further expanding its capabilities in the region, GE Oil & Gas has established a Qatar Service Center at the Ras Laffan Support Services Zone. The center was officially opened today with a ribbon cutting by H.E. Abdullah Bin Hamad Al Attiyah, Deputy Prime Minister and Minister of Energy and Industry for Qatar.
Qatar is one of the fastest growing centers for the oil and gas industry worldwide. GE Oil & Gas has been providing gas turbines, compressors and other equipment to support projects in Qatar for more than 35 years.
The new Service Center represents a significant step for GE's infrastructure localization strategy in the region, and will be a Center Of Excellence for GE Oil & Gas in the Middle East. It will support both emerging markets and the fast growing refinery industry in the region, with application expertise ranging from petrochemical services to LNG. The center will also provide customers with the first GE re-manufacturing capabilities for compressors in the Middle East.
Japan's Cosmo Oil has come to an agreement with Qatar to develop a new offshore oil field in the south-eastern part of the Middle Eastern country. The field is expected to produce 3,000 barrels per day (b/d) of crude oil from 2010. A joint venture (JV) between Cosmo (85.8%) and Japan's trading house Sojitz Corporation (14.2%) will invest JPY10bn (US$94mn) in the development of the field, according to Cosmo. Cosmo currently produces around 5,000b/d of crude oil from Block 1, which is located in A-structure just north of the new oil field, alongside partner Sojitz. This figure is expected to double to 10,000b/d by March 2008 and to 13,000b/d once the new field comes onstream in 2013.
The news indicates that Cosmo is actively seeking to expand its operations in Qatar. In October 2007, the company signed a production sharing contract (PSC) for the offshore Block 3 oilfield, granting Cosmo a 35% stake.