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…

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…

Libya’s NOC declares Force Majeure at Al-Feel oilfield

The Libyan National Oil Corporation (NOC) said in a statement on Saturday that it had declared force majeure on the Al-Feel oilfield after a protest by guards closed the field. Al-Feel, which produces 70,000 barrels per day (bpd) was…

Libya loses 70.000 oil bpd of its daily output

The company operating the 70,000 barrel-a-day Al-Feel deposit, also known as Elephant, suspended output late Thursday after armed guards who work at the facility decided to occupy it to protest at unpaid wages, a person with knowledge…

FATF removes Libya from terror-financing watch list

The international Financial Action Task Force (FATF) lifted Libya from the list of countries unable to fight money laundering and terrorism financing, the Central Bank of Libya said in a statement. “A major achievement was made with…

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