Posts Tagged ‘#Oil’

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...

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...

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...