Browsing Tag

#Oil

Oil pumps again in Sharara oilfield in Libya

Oil steadied after its steepest weekly loss in a month as Libya resumed production at its biggest oilfield following a brief halt. Futures in New York rose 0.2 percent after a 3.6 percent decline last week. The…

Repsol earnings increase due to resumed Libya production

Spanish energy company Repsol says cost reduction efforts, resumed production in Libya and rising market prices for crude boosted its earnings rise last year. Repsol S.A. said Wednesday it posted net income of 2.121 billion euros ($2.6…

Libya’s NOC declares Force Majeure at Al-Feel oilfield

The Libyan National Oil Corporation (NOC) said in a statement on Saturday that it had declared force majeure on the Al-Feel oilfield after a protest by guards closed the field. Al-Feel, which produces 70,000 barrels per day (bpd) was…

Libya loses 70.000 oil bpd of its daily output

The company operating the 70,000 barrel-a-day Al-Feel deposit, also known as Elephant, suspended output late Thursday after armed guards who work at the facility decided to occupy it to protest at unpaid wages, a person with knowledge…

Libya’s NOC issues arrest warrants of oil smugglers

  The Libyan National Oil Corporation (NOC) on Monday confirmed that arrest warrants have been issued by the Attorney General against fuel smugglers in western Libya.   “NOC commends the Attorney General’s…

IS terrorists attack Libya oilfield, three killed

Three militants from the so-called Islamic State (IS) were killed and others wounded as Petroleum Facilities Guard (PFG) forces thwarted an attack by the terrorists on Zallah, central Libya.   The clashes between the…

Libya to diversify sources of national revenue

  The Libyan authorities said on Saturday that it is seeking to diversify sources of national income now based entirely on oil.   Libya "seeks to benefit from financial revenues of exports, in order to reduce the…

Libya’s oil recovery helped oil prices soar to new highs

Libya’s crude oil production has risen 400% since August 2016 as the country plans to increase its oil production in 2018 despite production cuts. Market Realist reported that any increase in Libya’s crude oil production could weigh…

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept