Posts Tagged ‘OPEC’

Qatar to pull out of OPEC by next January

  • 3 December 2018 - 11:40
Qatar to pull out of OPEC by next January

Qatar announced on Monday it would withdraw from OPEC, mixing its aspirations to increase production outside of the cartel’s constraints with the politics of slighting the Saudi-dominated group amid the kingdom’s boycott of Doha. The surprise announcement from Qatar’s minister of state for...

Libya expects to be exempted from future OPEC cuts, NOC’s Chairman says

  • 19 November 2018 - 22:24
Libya expects to be exempted from future OPEC cuts, NOC’s Chairman says

Libya’s National Oil Corporation (NOC) Chairman, Mustafa Sanallah expects OPEC and allied producers to exempt the country from any future cuts in crude output. “The OPEC community has understood the difficulties we face –- Libya has withheld more than any other country from the global...

Oblivious to OPEC cuts, Libya intends to ramp up oil production in 2018

  • 12 December 2017 - 21:05
Oblivious to OPEC cuts, Libya intends to ramp up oil production in 2018

Libya and Nigeria – the only two exempt members of OPEC oil production cuts– have stated their willingness to ramp up their output in 2018. Libya's National Oil Corporation has sought funds and financial supports from the Libyan Government of National Accord (GNA) and the latest efforts in...

Libya limits oil production in line with OPEC deal

  • 7 December 2017 - 14:21
Libya limits oil production in line with OPEC deal

The Organization of Petroleum Exporting Countries (OPEC) has reached an agreement last week with Libya to set limits on its oil production . The surprising agreement reported by the American agency Bloomberg, which consists of a mutual understanding between the two parties of not raising the...

OPEC says Libya will be exempt from reducing production

  • 3 December 2017 - 15:36
OPEC says Libya will be exempt from reducing production

The Organization of Petroleum Exporting Countries (OPEC), will not force limits on Libya's production of crude oil. According to the final report published by OPEC on its official website, Libya will be exempt from cutting production like other member countries after an agreement was met on the...

OPEC extends output cuts and Libya is included

  • 2 December 2017 - 15:25
OPEC extends output cuts and Libya is included

After two dozen crude-producing nations agreed to limit their output through the end of 2018, oil prices rose high on Friday, heading toward 2½-year highs. International Brent crude scale surged 1.8%, to $63.74, not far off last month's high of $64.65 that marked the best intraday level since...

Reuters: OPEC oil production saw a hike in September over Libya, Iraq’s increased outputs

  • 1 October 2017 - 10:21
Reuters: OPEC oil production saw a hike in September over Libya, Iraq’s increased outputs

OPEC oil output has risen this month by 50,000 barrels per day (bpd), a Reuters survey found, as Iraqi exports increased and production edged higher in Libya, one of the producers exempt from a supply-cutting deal. The survey also found no sizeable further gain in output in Nigeria or Libya,...

Libya’s oil production ascending once again

  • 28 September 2017 - 11:14
Libya’s oil production ascending once again

Libya’s oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day even as OPEC and allied suppliers step up efforts to contain a global glut, Bloomberg reported. Bloomberg added that the output at Libya's Sharara field had...

Libya’s GNA Premier to attend OPEC/Non-OPEC meeting Friday

  • 20 September 2017 - 10:09
Libya’s GNA Premier to attend OPEC/Non-OPEC meeting Friday

Nigeria's oil minister and the head of Libya's state oil company are likely to attend a joint meeting between OPEC and non-OPEC nations on Friday, two OPEC sources said, to discuss the progress of their deal to limit output. Both countries are exempt from an OPEC-led deal to cut output and their...

Libya’s biggest oilfield Sharara resumes production

  • 17 August 2017 - 10:03
Libya’s biggest oilfield Sharara resumes production

Libya's biggest oil field started raising production as an export terminal re-opened for tanker loading. Crude oil output at Sharara--the biggest field in Libya, which is exempt from OPEC cuts--rose to 230,000 bpd on Tuesday—a 30,000 bpd increase just since Sunday, Bloomberg reports, citing an...