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A British firm will control Libyan oil field company October 7, 2011

Posted by mytruthaboutoil in Geostrategy.
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British company Heritage Oil PLC said Tuesday that it has acquired a controlling interest in a Libyan company licensed to provide oil field services including offshore and land-based drilling.

Heritage said it paid $19.5 million for a 51 percent stake in Sahara Oil Services Holdings Ltd. Heritage said the acquisition will allow it to play a significant role in Libya’s oil and gas industry.

Sahara Oil Services was established in 2009 and is based in Benghazi.

Heritage established a base in Benghazi this year and has been dealing with senior members of the National Transitional Council, the company said.

Richard Griffith, analyst at Evolution Securities, said the move “could prove to be a very shrewd investment” by the company.

Heritage Oil shares, however, were down 2.9 percent at 217.8 pence in early trading on the London Stock Exchange.

The company’s CEO Tony Buckingham said they are “well placed to play a significant role in the future oil and gas industry in Libya.”

“This acquisition is consistent with Heritage’s first mover strategy of entering regions with vast hydrocarbon wealth where we have a strategic advantage,” Buckingham said.

Heritage has exploration projects in the Kurdistan Region of Iraq, the Democratic Republic of Congo, Malta, Pakistan, Tanzania and Mali, and a producing property in Russia.

Statoil: the Northern discreet giant January 8, 2010

Posted by mytruthaboutoil in Oil (general), Oil giants.
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Statoil  is a Norwegian energy company. Most people are unfamiliar with this name, but Statoil is the biggest offshore oil and gas company in the world and the largest company by revenue in the Nordic Region. Nothing less!

Statoil has production operations in thirteen countries and retail operations in eight. By revenue Statoil is in 2009 ranked by Fortune Magazine as the world’s 13th largest oil and gas company and as the worlds 36th largest company.

Statoil is the largest operator on the Norwegian continental shelf, with 60% of the total production. The field operated are Glitne, Gullfaks, Heidrun, Huldra, Kristin, Kvitebjørn, Mikkel, Norne, Ormen Lange, Sleipner, Snorre, Snøhvit, Statfjord, Sygna, Tordis, Troll, Veslefrikk, Vigdis, Visund, Volve and Åsgard. The company also has processing plants at Kolsnes, Kårstø, Mongstad, Tjeldbergodden and Melkøya.

In addition to the Norwegian continental shelf, Statoil operates oil and gas fields in Algeria, Angola, Azerbaijan, Brazil, Canada, China, Iran, Libya, Nigeria, Russia, United States and Venezuela. Statoil has offices that are looking for possible ventures in the countries of Egypt, Mexico, Qatar and United Arab Emirates. The company has processing plants in Belgium, Denmark, France and Germany. In 2006, Statoil was approved to become the world’s largest project to implement carbon sequestration as a means to mitigate carbon emissions to the atmosphere.

Statoil is involved in a number of pipelines, including Zeepipe, Statpipe, Europipe I and Europipe II, and Franpipe from the Norwegian continental shelf to Western Europe in addition to the Baku-Tbilisi-Ceyhan pipeline in Central Asia. The pipelines from Norway are organized through Gassled.

The company has trading offices for crude oil, refined petroleum products and natural gas liquids in London, Stamford and Singapore.The company operates three brands of fuel stations: Statoil, Hydro and 1-2-3. Statoil operates petrol station services in Denmark, Estonia, Ireland Latvia, Lithuania, Norway, Poland, Russia and Sweden. Some fully automated stations are branded 1-2-3. In Sweden the company also operates Hydro stations. In total Statoil has about 2,000 fuel stations. In mid-2008, Statoil service stations in the Republic of Ireland began to rebrand as Topaz, following the acquisition of the company in 2006 by Irish oil firm Topaz Energy Group.