Posts Tagged ‘#Oil’

Libya’s state oil firm declares force majeure on Al-Zawiya oil refinery exports

  • 18 July 2018 - 12:00
Libya’s state oil firm declares force majeure on Al-Zawiya oil refinery exports

Libya’s National Oil Corporation (NOC) said on Tuesday it had declared force majeure on exports from Zawiya oil terminal as production at Sharara oilfield dropped to 125,000 barrels per day (bpd). Production at Sharara, where some staff were evacuated after two workers were abducted on...

Production at Sharara oilfield in south Libya disrupted over abduction of engineers

  • 14 July 2018 - 20:38
Production at Sharara oilfield in south Libya disrupted over abduction of engineers

Production at Libya’s giant Sharara oil field is said to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown armed group, the National Oil Corporation (NOC) said. The attack happened at a control station on the outskirts of...

Four engineers – one Romanian – kidnapped in Libya’s Sharara oilfield

  • 14 July 2018 - 12:03
Four engineers – one Romanian – kidnapped in Libya’s Sharara oilfield

Sources from Libya's Sharara oilfield said Saturday that four engineers, one of whom from Romania, were kidnapped and taken to an unknown place. The sources added that the engineers were abducted from their workplace by unknown armed group. However, hours ago, sources reported that two of the...

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...

Trump’s letter to rivals allegedly results in resumption of oil exports in Libya

  • 11 July 2018 - 15:41
Trump’s letter to rivals allegedly results in resumption of oil exports in Libya

The President of the United States Donald Trump has allegedly sent a letter on Tuesday to the Speaker of the Tobruk-based House of Representatives (HoR) Aqilah Saleh and the Head of the Tripoli-based Presidential Council, Fayez Al-Sirraj, scolding them for badly tackling the oil crescent region...

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...

Haftar conditions opening oil terminals to replacing Libya’s central bank governor

  • 4 July 2018 - 21:16
Haftar conditions opening oil terminals to replacing Libya’s central bank governor

The Libyan eastern warlord of the self-styled army Khalifa Haftar said in a statement posted by the General Command of the Army that the oil terminals will be reopened and oil exportation will resume once the governor of the Central Bank of Libya Al-Siddiq Al-Kabeer is replaced by Mohammed...

Libya force majeure on oil exports make prices skyrocket

  • 4 July 2018 - 20:28
Libya force majeure on oil exports make prices skyrocket

Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports, while the loss of Canadian supplies helped lifted US crude to levels not seen since late 2014. US light crude jumped 90 US cents, or 1.2%, to $74.84 a barrel, its highest since November 2014, before...