Tag Archives: Libya

Libya’s National Oil Corporation said on Friday that recent oilfield closures have caused the loss of approximately 63% of the country’s total oil production, as a conflict between rival eastern and western factions continues. The North African country’s oil blockade has widened, with eastern leaders demanding western authorities back down …

Several oilfields across Libya have halted production as closures spread, engineers reported on Tuesday, amid a dispute over control of the central bank and oil revenues. Mohammed al-Menfi, head of the Presidency Council in Tripoli, had issued a decision to replace Central Bank head Sadiq al-Kabir and the bank’s board, …

Oil prices paused recent advances to trade in a range on Tuesday, after a surge of more than 7 per cent in the previous three sessions, on supply concerns prompted by fears of a wider Middle East conflict and the potential shutdown of Libyan oil fields. Brent crude futures was …

Oil prices rose 2% on Monday on news of fresh production outages in Libya, adding to earlier gains on concerns that an escalating Gaza conflict could disrupt regional oil supplies. Brent crude futures climbed $1.64, or 2.08%, to $80.66 a barrel by 1041 GMT, while U.S. crude futures were at …

Libya’s National Oil Corp. (NOC) said Sunday it is working on increasing the production capacity of the Mellitah oil and gas processing complex by 30,000 barrels per day (bpd), days after declaring force majeure on the Sharara field. Work is also ongoing for a marine facility that will transport about …

Libya’s National Oil Corporation (NOC) has declared force majeure at the Sharara oilfield, after protests halted production at the country’s largest field earlier this week. Considering the current circumstances at Sharara that prevented NOC from carrying out crude oil loading operations, the state oil company of Libya declared force majeure …

Libyan Prime Minister Abdul Hamid Dbeibeh and his Yemeni counterpart Ahmed bin Mubarak discussed energy cooperation between the countries. A Libyan government statement said the two leaders dwelt on the establishment of new partnerships and cooperation between the countries in the field of energy. During a phone call, the “regional …

Libya recorded the biggest monthly increase in oil production in Africa, surpassing Nigeria, the continent’s largest producer. Libya’s production increase on a monthly basis to 1,167 million barrels of oil per day in February, compared to 1,023 million barrels per day last January, a daily increase of 144.000 barrels per …

Over the last decade, Libya has struggled to get its oil industry back on track due to political disruptions and a lack of foreign investment in the sector. Years of political unrest drove foreign investors out of the market, leaving many oil operations to sit untouched for years and driving …

Libya’s National Oil Corp. (NOC) announced Sunday the lifting of a force majeure declaration for Sharara, two weeks after pausing production citing a blockade by residents. The NOC did not provide further details besides saying in a statement on its website that it was “declaring lifting of force major and …