Posts Tagged ‘NOC’

Libya’s NOC lifts force majeure on El Feel oilfield, expects production to reach 72.000 bpd

  • 12 July 2018 - 20:42
Libya’s NOC lifts force majeure on El Feel oilfield, expects production to reach 72.000 bpd

Libya’s National Oil Corporation (NOC) said on Thursday that it was reopening the El Feel oilfield after resolving a dispute with guards over pay and benefits that shut it down in February. Production at El Feel was expected to reach 50,000 bpd in two days, and 72,000 bpd three days later, NOC...

Oil prices drop after Libya announced oil exports resumption

  • 11 July 2018 - 20:14
Oil prices drop after Libya announced oil exports resumption

Oil futures plunged on Wednesday as the market remained fixed on supplies resuming from Libya and rising trade tensions between the U.S. and China. The market shrugged off bullish government data showing U.S. crude stockpiles slumped by nearly 13 million barrels last week, the biggest slide in...

Libya’s state oil company lifts force majeure on ports, resumes crude exports

  • 11 July 2018 - 12:05
Libya’s state oil company lifts force majeure on ports, resumes crude exports

Libya’s Tripoli-based National Oil Corporation (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed them the ports. Force majeure, a legal waiver on contractual obligations, was lifted on the ports of Ras Lanuf, Es Sider, Zueitina and Hariga, it...

NOC Chairman: Libya’s oil production on slide everyday due to shutdown of exports

  • 10 July 2018 - 15:00
NOC Chairman: Libya’s oil production on slide everyday due to shutdown of exports

Libya’s national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation (NOC) said in a statement on Monday. The NOC had not previously stated how high the country’s...

Libya’s NOC chairman urges UN sanctions commission to punish Haftar and 47 others for blocking oil exports

  • 3 July 2018 - 22:05
Libya’s NOC chairman urges UN sanctions commission to punish Haftar and 47 others for blocking oil exports

The National Oil Corporation (NOC) has also written to the UN sanctions committee and foreign embassies with evidence that it says shows Haftar’s allies have for years been offering questionable contracts in breach of UN resolutions, that would lead to millions in dollars of oil revenues being...

Libya’s oil output goes offline as force majeure declared in ports, NOC says

  • 2 July 2018 - 12:12
Libya’s oil output goes offline as force majeure declared in ports, NOC says

Libya’s National Oil Corporation (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday, resulting in total production losses of 850,000 barrels per day (bpd) due to the closure of eastern fields and ports. The Tripoli-based NOC made the announcement after eastern...

Parallel NOC Chairman bars oil exports contacted by Tripoli oil firm

  • 1 July 2018 - 21:29
Parallel NOC Chairman bars oil exports contacted by Tripoli oil firm

Officials at Libya’s Zueitina oil terminal have not authorised a tanker contracted by Tripoli-based National Oil Corporation (NOC) to load its contacted shipment, while loading was also blocked at Hariga terminal. Zueitina and Hariga are among the oil ports that the eastern-based Libyan...

Libya’s oil output sharply drops from 1 million to 315.000 bpd

  • 1 July 2018 - 11:46
Libya’s oil output sharply drops from 1 million to 315.000 bpd

Libya’s oil production has been reduced to 315,000 barrels per day (BPD) as storage tanks at Hariga and Zueitina ports fill up due to eastern officials blocking exports, two Libyan oil sources said on Saturday. The production drop has been gradual as ships have been barred from loading at the...

Husni Bey: Handover of Libya’s oil terminals is “tactical mistake that could divide the country”

  • 30 June 2018 - 13:39
Husni Bey: Handover of Libya’s oil terminals is “tactical mistake that could divide the country”

Libyan businessman Husni Bey told Libyan Express on Saturday that "The LNA’s decision to transfer authority of the Ras Lanuf and Es Sider ports to the eastern parallel National Oil Corporation (NOC) is a serious tactical mistake which should be reconsidered. "This decision undermines the...

Libya’s warlord Haftar hands over oil ports to unrecognized NOC

  • 26 June 2018 - 10:22
Libya’s warlord Haftar hands over oil ports to unrecognized NOC

Khalifa Haftar announced Monday the handover of oil installations under the control of his self-styled army to an administration that rivals Libya's UN-backed government, after retaking them from militias. The strongman's announcement came just hours after his "Libyan National Army " said it had...