Tag Archives: Libya

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.

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.