Tag Archives: Libya

US West Texas Intermediate crude futures was 35 cents higher at $68.43 a barrel.

Libya’s national oil production has dropped to between 600.000 and 700.000 bpd due to the closure of the ports.

Libya has lost 450.000 barrels per day (bpd) of oil production due to clashes at the oil terminals of Es Sider and Ras Lanuf.

Libya has been torn apart by conflict since its long-time leader Muammar Gaddafi was overthrown in 2011.

Libya has descended into chaos following a 2011 uprising that toppled a longtime ruler.

Reports indicate that the Aframax tanker Minerva Lisa was due to pick up oil at Es Sider Thursday.

Libya’s national production rose to above 1 million bpd last year after long-term blockades of ports and pipelines ended.

BP signed a major exploration deal in Libya in 2007 but put its onshore plans on hold in 2014 because of security concerns.

The OPEC country'.s output has recovered in the last year to nearly 1 million b d.

Libya. holder of Africa’s largest crude reserves and an OPEC member. is already reeling from political divisions.