At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once again. Video
- Angelina Jolie stunt double sues News Corp over hacking
- Kanye West wins over critics with 'daring' new album 'Yeezus'
- Shares choppy, dollar steady as Fed meets
- Massachusetts police search NFL player's home in homicide probe: report
- Journalist who brought down U.S. general is killed in Los Angeles car crash
Factbox: U.S. oil companies' interests in Libya
(Reuters) - A burgeoning revolt in Libya led to a call from U.S. Senator John Kerry, who is chairman of the Senate Foreign Relations Committee, for all oil companies to cease operations in the country immediately.
Many U.S. oil companies have interests in Libya. The following are details of their exposure, based on their latest annual reports:
ConocoPhillips, the third-largest U.S. oil company, holds a 16.3 percent interest in Libya's Waha concessions, which encompass nearly 13 million gross acres. Net oil production from Libya averaged 45,000 barrels per day in 2009 -- or 2 percent of worldwide output -- down from 47,000 bpd in 2008.
MARATHON OIL CORP
Marathon has a 16 percent interest in the outside-operated Waha concessions in the Sirte Basin. Its 2009 exploration program included the drilling of four wells, along with five development wells. Net liquid hydrocarbon sales from Libya were 46,000 bpd in 2009, or 19 percent of its total. Marathon said on Tuesday its Waha production was normal.
In 2009, Hess produced 22,000 bpd of crude from Libya, or 8 percent of its crude output. At the end of 2009, 23 percent of its proved reserves were in Africa, with Libya making up 11 percent of that. Along with its Oasis Group partners, Hess has operations in Waha, with an interest of 8 percent. Hess also owns all of Area 54 offshore, where it drilled an exploration well in 2008, followed in 2009 by a down-dip appraisal well.
OCCIDENTAL PETROLEUM CORP
Occidental, the fourth-largest U.S. oil company, earned $243 million in net sales from Libya in 2009, or less than 2 percent of its total. Production increased in 2010, and Oxy has plans to double its output from Libya by 2014.
(Compiled by Braden Reddall in San Francisco, with reporting by Anna Driver in Houston; Editing by Lisa Von Ahn)
- Tweet this
- Share this
- Digg this