Tag Archives | oil producer

Shell to Exit Libyan Exploration Blocks due Insecurity

Royal Dutch Shell PLC Monday said it was exiting its Libyan exploration blocks amid insecurity and harsh contracts, the first such move since Gadhafi’s overthrow. The Anglo-Dutch giant insisted it was still interested in the country, which holds Africa’s largest oil reserves

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Russia Claims Title of Top Oil Producer

Russia has been pumping hundreds of thousands of barrels of oil per day more than Saudi Arabia and is confident it can increase output year on year, Energy Ministry data showed, contradicting a report the kingdom has become the world’s biggest producer.

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