Posts Tagged ‘#Oil’

Mellitah Oil and Gas Company suspend work at complex over new gas project

  • 14 April 2018 - 17:49
Mellitah Oil and Gas Company suspend work at complex over new gas project

Mellitah Oil and Gas Company in Libya said work has been suspended in its complex due to the second phase of the Salam Oilfield Project. The company said in a statement that this stage of wok will see the addition of 10 wells so the natural gas supply can cover the need of the local...

Libya’s oil production hits over 1 million bpd, Reuters reports

  • 7 April 2018 - 13:15
Libya’s oil production hits over 1 million bpd, Reuters reports

Libya is producing around 1.05 million barrels of oil per day (bpd) with much of it being exported abroad, primarily to Europe, Reuters reported on Friday, citing a source in Libya’s oil industry.  Libya’s oil output has been subject to fluctuations, as the local industry has underdeveloped...

Workers strike at Libya Al-Zawiya port puts off oil loading operation

  • 12 March 2018 - 20:57
Workers strike at Libya Al-Zawiya port puts off oil loading operation

Workers' strike at the Libyan oil port of Al-Zawiya delayed loading activity on Monday but negotiations were under way to resolve the dispute, several oil and trading sources told Reuters.   Workers at Al-Zawiya, which exports crude from Libya’s giant Sharara oilfield,...

Al-Feel oilfield in Libya to reopen regaining 70.000 bpd

  • 8 March 2018 - 14:39
Al-Feel oilfield in Libya to reopen regaining 70.000 bpd

  Reopening Libya’s 70,000 barrel-per-day Al-Feel oilfield, which was shut by a dispute on February 23, has been agreed on, the Petroleum Facilities Guard (PFG) said on Wednesday.   “It has been agreed to reopen Al-Feel oilfield,” PFG spokesman Taha Ghrouda...

Oil pumps again in Sharara oilfield in Libya

  • 5 March 2018 - 16:49
Oil pumps again in Sharara oilfield in Libya

Oil steadied after its steepest weekly loss in a month as Libya resumed production at its biggest oilfield following a brief halt. Futures in New York rose 0.2 percent after a 3.6 percent decline last week. The Sharara field, Libya’s biggest, has started producing again...

Libya oil production loses 300.000 bpd as gang shuts down key Sharara oilfield, demanding LYD 25 million

  • 4 March 2018 - 20:45
Libya oil production loses 300.000 bpd as gang shuts down key Sharara oilfield, demanding LYD 25 million

    Libya’s Sharara oil field stopped pumping crude oil and the National Oil Corporation announced force majuere inside it after a gang in Hamada area shut down pipeline from Sharara to the Zawiya refinery.   This plague to Libya's oil production comes several days...

French oil giant Total buys US MRO.N stake at Libya’s Waha oilfield for $450 million

  • 3 March 2018 - 10:11
French oil giant Total buys US MRO.N stake at Libya’s Waha oilfield for $450 million

French energy company Total (TOTF.PA) substantially raised its presence in Libya with the purchase of a 16.33 percent stake in Libya’s Waha concessions from U.S. Marathon Oil (MRO.N) for $450 million on Friday, Reuters reported. The deal will give Total access to reserves and...

Libya’s oil output soaring despite latest shutdown of key oilfield, Bloomberg reports

  • 1 March 2018 - 18:43
Libya’s oil output soaring despite latest shutdown of key oilfield, Bloomberg reports

    PetroChina Co. agreed to an annual contract to buy Libyan crude after similar deals by oil majors like Royal Dutch Shell Plc and BP Plc, underscoring a recovery in the North African country’s production even as its political uncertainty persists. The term contract is the...

Repsol earnings increase due to resumed Libya production

  • 28 February 2018 - 16:37
Repsol earnings increase due to resumed Libya production

Spanish energy company Repsol says cost reduction efforts, resumed production in Libya and rising market prices for crude boosted its earnings rise last year. Repsol S.A. said Wednesday it posted net income of 2.121 billion euros ($2.6 billion) in 2017 — a 22 percent increase on the previous...

Oil prices up as Libya’s production stalled over Al-Feel field shutdown

  • 26 February 2018 - 14:00
Oil prices up as Libya’s production stalled over Al-Feel field shutdown

Oil gained as Libya’s crude exports from a key terminal were disrupted and Saudi Arabia pledged that global producers will ease their output curbs without shocking the market.   Futures in New York rose as much as 0.6%, after rising 3% the previous two sessions....