Posts Tagged ‘NOC’

Libya hopes to reach 2 million oil bpd by 2022, NOC chairman says

  • 15 November 2018 - 20:41
Libya hopes to reach 2 million oil bpd by 2022, NOC chairman says

Libya hopes to receive an exemption from possible production curbs by Opec and allies, as it works to raise its own output capacity levels to two million barrels per day by 2022, the head of the country’s state producer said. "Opec and non-Opec [producers] for the last two years understood...

UN Sanctions Committee says committed to preventing illicit oil sales from Libya

  • 4 November 2018 - 20:40
UN Sanctions Committee says committed to preventing illicit oil sales from Libya

The chairman of the United Nations Security Council (UNSC) Libyan Sanctions Committee, Olof Skoog, has confirmed the UN’s commitment to the prevention and halt of the illegal export and sale of Libyan crude and refined products outside of existing legal frameworks. Parties also discussed the...

Libya reopens Al-Bayda oilfield

  • 31 October 2018 - 11:31
Libya reopens Al-Bayda oilfield

 Libya has restarted the eastern al-Bayda oilfield, a field engineer said late on Tuesday, the latest operation in the so-called Oil Crescent region to resume work after heavy fighting in June. The field has a current capacity of about 12,400 barrels a day, the engineer said, showing pictures...

Sanallah asks central bank to add 67% raise to oil workers’ salaries

  • 30 October 2018 - 19:11
Sanallah asks central bank to add 67% raise to oil workers’ salaries

The chairman of Libya's state oil firm National Oil Corp (NOC) has asked the central bank to increase salaries of oil workers by 67 percent in 2019, a statement said on Tuesday. The North African country approved in 2013 such a pay rise which was never implemented as Libya's chaos accelerated then...

BP says to start oil exploration in Libya at beginning of 2019

  • 25 October 2018 - 12:30
BP says to start oil exploration in Libya at beginning of 2019

 British Petroleum (BP) expects to begin exploration with Italian oil major Eni in Libya in the first quarter of next year, CEO Bob Dudley told Reuters on Thursday. “I’m not sure about this year since it takes time to set up offshore rigs but Q1 for sure,” Dudley said on the sidelines of...

Libya’s state oil firm to close Al-Zawiya refinery if security violations continue

  • 14 October 2018 - 21:00
Libya’s state oil firm to close Al-Zawiya refinery if security violations continue

Libya’s National Oil Corporation (NOC) warned on Sunday that it would suspend operations at Al-Zawiya refinery unless security improved after two recent attacks. The refinery west of the capital Tripoli supplies western and southern Libya with fuel. Its port also exports crude from the...

Libya, UAE to cooperate in oil sector

  • 11 October 2018 - 16:41
Libya, UAE to cooperate in oil sector

The Libyan National Oil Corporation (NOC) chairman  Mustafa Sanallah met with His Excellency Dr Sultan Ahmed Al Jaber, United Arab Emirates Minister of State and Group CEO of the Abu Dhabi National Oil Company (ADNOC) in London yesterday. The two parties discussed mutual cooperation and the...

Libya’s Sharara oilfield insecurity drops country’s output

  • 10 October 2018 - 16:01
Libya’s Sharara oilfield insecurity drops country’s output

Libya's crude oil output has dipped again due to the deteriorating security situation around its largest oil field, Sharara, sources said Tuesday. Sources with knowledge of Libya's production said an increase in local militia activity in the past week led to some oil workers evacuating fields....

9% of fuel sold in Italy’s petrol stations is smuggled from Libya, report says

  • 6 October 2018 - 21:03
9% of fuel sold in Italy’s petrol stations is smuggled from Libya, report says

The National Oil Corporation's (NOC) current target is petrol smuggling, reported Petroleum Economist on Friday. "The extent of Libya's fuel smuggling was laid bare in September by a report by the UN Panel of Experts. Lacking refinery capacity, Libya spends $3.3bn a year importing petrol and...

Libya’s state oil firm delays Benghazi conference over attack on its Tripoli HQ

  • 4 October 2018 - 17:20
Libya’s state oil firm delays Benghazi conference over attack on its Tripoli HQ

Libya’s state oil company National Oil Corp (NOC) said on Wednesday it had postponed a conference in the eastern city of Benghazi for 15 days following an attack on its Tripoli headquarters last month. The three-day conference, to be held in Libya’s second-largest city, is aimed at allowing...