Russian oil companies bid for oil deposits in Libya

Energy Trade

Three Russian companies - Gazprom, Lukoil and Novatek - will participate in the fourth round of bidding for the right to operate oil fields in Libya, the National Oil Corporation (NOC) said Wednesday.

In all, 35 companies have qualified for Bid Round 4, including Ukraine’s Naftogaz, as well as Gas de France, ExxonMobil, Wintershall, Statoil, Sonatrach, OMV, Shell, BP, ENI, Chevron, Petronas, ONGC and RWE. The NOC also said it has approved a list of 21 companies that have qualified as “investor,” including MOL, Hellinic Petroleum, Oil India, Japan Petroleum, Mitsubishi Corp., Mitsui Oil, Korea Gas, Nippon Oil, Centrica, E.On and Fenosa.

Libya has the largest proven reserves of low-sulfur oil in Africa and, at 5.1 billion metric tons, the fifth-largest reserves among OPEC countries. Libya’s natural gas reserves are estimated at 1.49 trillion cubic meters (the fourth-largest in Africa, after Algeria, Nigeria and Egypt). (


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.