Tag Archives: Libya

Between 30 and 40 percent of fuel refined in Libya or imported into the country is stolen or smuggled.

IEA in the Oil 2018 envisaged that excess global refining capacity would grow. but Asian refiners need more crude.

Libya was initially exempt from the OPEC production cuts together with Nigeria because of the violence in the two countries.

Oil prices are responding to the tightening of supply due to the Libyan production halt.

Boosting capacity at the field requires much-needed investment that NOC has been struggling to secure.

Production from at least one Libyan oil field has also been disrupted by a dispute over security guards’ pay.

Oil prices surged on Friday after the shutdown of a key oilfield in Libya.

The field is operated by a joint venture between state-owned NOC and Italy’s Eni.

Libya boasts oil reserves of 41 billion barrels. perhaps the largest in Africa.

Libya. along with Nigeria. is formally excluded from an effort by the OPEC to balance an oversupplied market with coordinated production cuts.