Posts Tagged ‘#Oil’

Sanallah to Bloomberg: Libya boosts oil output by a third after reopening Sharara field

  • 18 March 2019 - 20:27
Sanallah to Bloomberg: Libya boosts oil output by a third after reopening Sharara field

Libya's Sharara oilfield is currently pumping 260,000 barrels a day, the Chairman of the National Oil Corporation (NOC) Mustafa Sanallah told Bloomberg Television in an interview on Monday. Sanallah told Bloomberg that Libya's crude production has been boosted by a third after restarting its...

Libya’s NOC reopens Sharara oilfield

  • 5 March 2019 - 16:11
Libya’s NOC reopens Sharara oilfield

Libya's National Oil Corporation says production is to resume within hours at the southwestern Sharara oil field after control was retaken from an armed group last month. The militia's blockade had cost the state oil company around $1.8 billion in lost production. NOC chairman Mustafa Sanallah...

Libya’s NOC Chairman: Sharara oilfield remains shut till security improves

  • 28 February 2019 - 20:27
Libya’s NOC Chairman: Sharara oilfield remains shut till security improves

Libya’s Sharara oilfield is going to remain shut until armed groups leave the site, the Chairman of state oil company NOC said on Thursday.  “NOC is technically ready to lift the state of force majeure at Sharara, but the issue that remains is security,” Mustafa Sanallah said in a video...

Libya’s state oil firm lifts force majeure on Sharara oilfield

  • 26 February 2019 - 20:18
Libya’s state oil firm lifts force majeure on Sharara oilfield

After arriving in the UAE on Monday, the Chairman of the National Oil Corporation (NOC) Mustafa Sanallah met with the Head of the Presidential Council Faye Al-Sirraj and agreed on reopening Sharara oilfield and lifting force majeure.  "Sanallah met with the chairman of the Presidency Council...

Chairman of Libya’s NOC arrives in Abu Dhabi for Sharara reopening talks

  • 26 February 2019 - 12:54
Chairman of Libya’s NOC arrives in Abu Dhabi for Sharara reopening talks

The Libyan National Oil Corporation (NOC) announced late on Monday that its Chairman Mustafa Sanallah had arrived in the UAE for talks over the closure of Sharara oilfield.  NOC explained that Sanllah would meet with local, regional and international parties in the UAE to discuss the issue of...

Chairman of Libya’s NOC rejects reopening Sharara oilfield for security reasons

  • 25 February 2019 - 12:48
Chairman of Libya’s NOC rejects reopening Sharara oilfield for security reasons

The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah said in a video statement late on Sunday that the NOC won't reopen the biggest oilfield in the country "Sharara" because there are still armed militias and lack of security in there. He explained in the video that Sharara...

Sanallah says NOC says reopening Libya’s Sharara oilfield complicated by Haftar’s military moves in the south

  • 29 January 2019 - 21:09
Sanallah says NOC says reopening Libya’s Sharara oilfield complicated by Haftar’s military moves in the south

Libya's biggest oilfield - Sharara - will remain shut until an armed group occupying the site leaves, the head of National Oil Corp (NOC) said on Tuesday, more than a month after the field closed because of a protest, Reuters reported on Tuesday.  "The armed group attempting to...

Haftar’s forces declare war on “terrorism” in south Libya

  • 15 January 2019 - 21:13
Haftar’s forces declare war on “terrorism” in south Libya

The East-based Libyan self-styled army forces loyal to Khalifa Haftar have launched a military operation in southern Libya to secure oil and gas facilities and fight extremists, a spokesman said on Tuesday.  “We announce the start of an operation to liberate the south,” the spokesman Ahmed...

Swiss Glencore loses exclusive rights to major Libyan oil grades

  • 10 January 2019 - 17:00
Swiss Glencore loses exclusive rights to major Libyan oil grades

Reuters reported on Thursday that the Swiss trading and mining giant Glencore (GLEN.L) had lost its exclusive marketing rights for two of Libya’s main crude oil export grades after holding them since late 2015, citing trading sources with direct knowledge with the matter. The Switzerland-based...

Libya’s oil revenue highest in five years reaching over $24 billion

  • 7 January 2019 - 20:58
Libya’s oil revenue highest in five years reaching over $24 billion

The National Oil Corporation (NOC) recorded an average production of 1.107 million barrels per day in 2018 and total revenues of 24.4 billion USD – a five year high and 78% year-on-year increase. NOC chairman, Eng. Mustafa Sanalla presented the 2018 financial data and NOC subsidiary plans...

Libya aims to raise oil output to 2.1 million bpd, Sanallah says

  • 6 January 2019 - 18:36
Libya aims to raise oil output to 2.1 million bpd, Sanallah says

Libya aims to increase its oil production to 2.1 million barrels per day (bpd) from 953,000 bpd currently, the chairman of the state oil company NOC said on Sunday in Benghazi. Reaching that target hinges on improving security conditions in the country, Mustafa Sanallah said at a news...

NOC warns Libya could lose 8500 bpd at Sharara oilfield to looting

  • 3 January 2019 - 12:49
NOC warns Libya could lose 8500 bpd at Sharara oilfield to looting

Libya’s closed Sharara oilfield is expected to lose 8,500 barrels per day to looting, state oil company National Oil Corporation (NOC) said on Thursday. Three security breaches and looting have taken place at the 315,000 bpd field over two weeks, NOC said, reiterating its calls for the...

Libya’s Sharara oilfield to reopen after protesters agree with government

  • 20 December 2018 - 14:54
Libya’s Sharara oilfield to reopen after protesters agree with government

The Fezzan rage Movement protesters agreed with the Head of the Presidential Council Fayez Al-Sirraj on Wednesday to immediately reopen the largest oil field in the country, Sharara, after Al-Sirraj had paid them a visit and promised to materialize their demands.  Al-Sirraj and a government...

Libya’s state oil firm declares force majeure on Sharara oilfield

  • 18 December 2018 - 15:05
Libya’s state oil firm declares force majeure on Sharara oilfield

Libya’s National Oil Company (NOC) has declared force majeure on operations at the country’s largest oilfield, Sharara, a week after the firm announced a contractual waiver on exports from the field following its seizure by militants. Exports from the smaller El Feel oilfield were continuing,...

Oil prices rise over Libya exports’ cuts

  • 12 December 2018 - 18:42
Oil prices rise over Libya exports’ cuts

Oil prices rose on Wednesday, supported by a report showing a drop in U.S. crude inventories, a cut in Libyan exports and an OPEC-led deal to trim output. U.S. commercial crude inventories fell by 1.2 million barrels in the week through Dec. 7, the U.S. Energy Information Administration reported....

Libya’s state oil firm declared force majeure at Sharara oilfield

  • 10 December 2018 - 19:56
Libya’s state oil firm declared force majeure at Sharara oilfield

Libya’s National Oil Company (NOC) said on Monday it had declared force majeure on exports from Sharara oilfield - Libya's largest - after the facility was seized by local protesters identifying themselves as Fezzan Rage Movement. NOC said in a statement the shutdown of its biggest oilfield...

Libya’s Sharara oilfield closed by Fezzan Rage Movement protesters

  • 8 December 2018 - 16:50
Libya’s Sharara oilfield closed by Fezzan Rage Movement protesters

The Libyan biggest oilfield, Sharara, has been shut down by a number of protesters from the Fezzan Rage Movement, the movement said on is social media pages. The movement said the shutdown also included El Feel oilfield. The closure is because of the inaction of the National Oil cooperation and...

Libya’s oil ports in the east reopen

  • 8 December 2018 - 12:33
Libya’s oil ports in the east reopen

Eastern Libyan oil export ports have reopened after bad weather forced their shutdown, Libyan state oil company NOC said on Friday. NOC’s statement said storage tanks at the port of Es Sider could accommodate three days of production. One vessel is being loaded now and another is on its way to...

Libya’s oil terminals resume exports after brief closure over bad weather

  • 2 December 2018 - 16:17
Libya’s oil terminals resume exports after brief closure over bad weather

Four Libyan oil export ports that were closed last week because of bad weather have reopened, a Libyan shipping source and port engineers told Reuters on Sunday. Tankers were docking at the eastern Ras Lanuf, Es Sider, Zueitina and Brega ports as well as the western Zawiya terminal linked to the...

Libya’s oil output falls by 150.000 bpd, NOC says

  • 1 December 2018 - 14:02
Libya’s oil output falls by 150.000 bpd, NOC says

The Libyan National Oil Corporation (NOC) said Friday that operations at four oil terminals in the country had been temporarily halted due to bad weather conditions. “Ras Lanuf, Zueitina, Zawiya and Es Sider terminals have all been temporarily shut due to persistent bad weather,” the NOC said...