Russian Rosneft oil firm starting lifting oil from Libya
The Russia’n oil firm, Rosneft, has begun lifting oil from Libya, the Chairman of the National Oil Corporation (NOC) Mustafa Sanallah, told reporters on Monday, according to Reuters.
“Yes, they started,” Sanallah told reporters when asked whether Rosneft had started to lift oil from the OPEC-member country which is exempt from the global oil output cut deal, Reuters wrote on Sunday.
“It is a one year contract and they are lifting one-two cargoes on a monthly basis,” Sanallah added, according to Reuters.
Meanwhile, oil headed higher Monday as news that Libya and Nigeria have been invited to join OPEC’s meeting with other major producers later this month helped to lift futures prices. The two countries had been exempted from a recent pact to limit global production and ease a glut of oil that has plagued the industry.
How to submit an Op-Ed: Libyan Express accepts opinion articles on a wide range of topics. Submissions may be sent to oped@libyanexpress.com. Please include ‘Op-Ed’ in the subject line.
- Libya’s HCS invites applicants for key state roles - December 31, 2023
- UK calls on Iran to prevent escalation in Israel-Hamas conflict - November 05, 2023
- Libyan Interior Minister: Immigrant shelter costs a fortune - November 05, 2023