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Workforce should be Lebanese moving forward

Energy Minister Cesar Abi Khalil Monday said 80 percent of the workforce in any future oil sector must be Lebanese. “We made sure to put in the book of terms the minimum requirement that 80 percent of the workforce in this sector must be Lebanese,” Abi Khalil said at a news conference from the Energy Ministry. “We are working to

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Oil dips on rising U.S. fuel stocks

Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lacklustre demand. A worker prepares to label barrels of lubricant oil at the state oil company Pertamina’s lubricant production facility in Cilacap, Central Java, Indonesia November 6, 2017 in this photo taken by Antara Foto. U.S. West

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Statoil greenlights key $6 billion oil project

Statoil gave the final go-ahead to a flagship Arctic oil project after slashing costs by half. While expected, the move by Norway’s biggest oil company is a boost to a region seen as key to arresting a decline in the country’s production. In a striking illustration of how oil companies have adapted to lower prices, Statoil cut estimated investments at

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