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 …
Read More »Libya Looks to Boost Oil Production amid Soaring Geopolitical Risk
After decades of low interest in Libya’s oil and gas sector due to sanctions and the civil war, a possible new chapter could open in 2025. Based on the potential tender by the Libyan National Oil Company (NOC) for 22 onshore and offshore exploration blocks, expectations are high that international …
Read More »OPEC’s Oil Production Rose in November as Libyan Output Jumped
Crude oil production from all OPEC members rose by 104,000 barrels per day (bpd) in November compared to October, the organization’s Monthly Oil Market Report (MOMR) showed on Wednesday. Total OPEC-12 crude oil production averaged 26.66 million bpd last month, as output in Libya, Iran, and Nigeria increased, according to …
Read More »OPEC Oil Production up due to Libya Production Increase
Reuters has reported that OPEC oil production is up for the second month in a row in November with the recovery of Libyan production. The agency said that surveys showed the organization pumped 26.5 million barrels per day last month, an increase of 180 thousand barrels per day from last …
Read More »Can Lebanon’s Renewable Energy Sector Rise to the Challenge?
Lebanon has been facing an energy crisis for several years, with regular blackouts leading to an overreliance on diesel generators for power. This is largely due to years of misspending public funds and underinvestment in the country’s energy infrastructure. Now, there are concerns that Lebanon’s ongoing conflict with neighbouring Israel …
Read More »Libya Set to Announce First Oil Bid Round since 2011
Beleaguered North African oil producer Libya is set to announce within months its first oil and gas exploration bid round since the civil war began in 2011, Libyan Oil Minister Khalifa Abdul Sadiq told Bloomberg in an interview. OPEC member Libya plans to offer blocks both onshore and offshore in …
Read More »Libya Gas Project Faces Political Headwinds
A major natural-gas development in western Libya, valued at up to $5 billion, is facing mounting opposition from government officials and local residents. This highlights the challenges of developing energy resources in the politically fractured nation. The Hamada NC-7 concession, located in Libya’s Ghadames basin, contains an estimated 2.7 trillion …
Read More »Libya Set to Announce First Oil Bid Round since 2011
Beleaguered North African oil producer Libya is set to announce within months its first oil and gas exploration bid round since the civil war began in 2011, Libyan Oil Minister Khalifa Abdul Sadiq told Bloomberg in an interview. OPEC member Libya plans to offer blocks both onshore and offshore in …
Read More »OPEC Oil Production Dipped by 600,000 Bpd in September amid Libyan Blockade
OPEC’s crude oil production slumped by 604,000 barrels per day (bpd) in September compared to August, as Libya’s output was largely halted amid a political standoff and Iraq moved to improve compliance with the OPEC+ cuts. All 12 OPEC producers pumped on average 26.04 million bpd of crude last month, …
Read More »Can Libya’s Oil Sector Survive the Storm?
Libya’s oil production experienced a significant decline due to a political crisis that lasted for a month. The crisis involved tensions between rival factions and led to the closure of important oil fields and ports. Output dropped by over 80%, from 1.2 million barrels per day (bpd) to approximately 500,000 …
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