Libya’s state energy firm said it expects to sign more deals with foreign companies after Eni SpA agreed to invest $8 billion to extract natural gas in the North African country. Libya’s abundance of oil and gas reserves — among the largest in Africa — and its proximity to Europe …
Read More »Libyan Court Suspends Controversial Oil and Gas Deal with Turkey
A Libyan court has suspended a deal for offshore oil and gas exploration that Libya and Turkey inked last year, a deal that sparked outrage from neighbors Egypt and Greece. The deal concerned waters that Libya and Turkey have declared to be theirs but that are disputed by Egypt and …
Read More »Libya Lifts Force Majeure on Oil Exploration
The Government of National Unity (GNU), announced that it had lifted the force majeure for oil and gas explorations on Monday. The GNU invited international oil companies that have contracts with the state-oil company (NOC) to resume their work in the country. The government of Abdul Hamid Dbeibah had signed …
Read More »NOC Petrochemicals Producer, Biggest in North Africa to Restart Operations
The National Oil Corporation (NOC) has given the green light to restart the ethylene plant, the largest station for producing petrochemicals in North Africa, after a hiatus of more than eight years. “The NOC Chairman and board members praise the efforts of the company’s management and employees to restart this …
Read More »Libya Reviews Possibility of Extending New Gas Pipeline to Italy
The Minister of Oil and Gas, Mohammed Aoun, has stated that a new gas pipeline parallel to the existing one, could be extended to Italy, within four to six months, noting that Libya exports about 250 to 300 million cubic feet of gas to Italy per day. “There are huge …
Read More »Libya is Second Largest Oil Producer in Africa, OPEC Says
Angola and Libya have overtaken Nigeria as Africa’s highest crude oil producers, a report by the Organisation of the Petroleum Exporting Countries (OPEC) said. The monthly OPEC report showed an increase in oil production by ten countries last August, led by Libya, Saudi Arabia and Kuwait as Libyan production reached …
Read More »Can Libya Regain its Reputation as a Reliable Oil Nation?
Libya’s oil output is finally increasing following the political crisis that restarted earlier this year following the failed Presidential elections of December 2021. The country is now attempting to ramp up its crude production through the summer months. As global demand stays strong and oil prices continue to increase, Libya …
Read More »Libya to Increase Daily Oil Production to 1.2 mln Barrels
The state-owned National Oil Corporation (NOC) of Libya on Saturday said that it plans to increase the daily oil production to 1.2 million barrels, Trend reports citing Xinhua. “The NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in …
Read More »Libya Aims to Raise Oil Production to 1.2 Million bpd
Libya’s National Oil Corporation (NOC) aims to bring back production to 1.2 million barrels per day (bpd) in two weeks, NOC said in a statement. “NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in two weeks,” according to …
Read More »Libya Declares Force Majeure on Oil Exports
Libya’s National Oil Corporation (NOC) declared force majeure on crude exports from its oil terminals amid continued blockades of production and ports, which have severely crippled Libya’s oil exports. The force majeure comes after weeks of protests and closures amid the new rift in Libya’s political class over who should …
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