International

New Oil Well Bolsters Libya’s Production Capacity

The Arabian Gulf Oil Company (AGOCO), a subsidiary of Libya’s National Oil Corporation, has successfully activated a new oil well in the Sarir field on 17 January. The well, designated L096, commenced operations following the completion of essential mechanical and electrical infrastructure works. AGOCO officials report the new installation will …

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Russia’s Fuel Shipments Slumped by 9% in 2024

Russia’s exports of refined oil products by sea declined by 9.1% in 2024 from a year earlier, due to low processing rates, drone attacks knocking out refineries, and export bans, Reuters reported on Friday, citing industry data. Russia shipped a total of 113.7 million metric tons of refined petroleum products …

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