Tag Archives: Libya

Libya’s oil production has declined from 1.3 million barrels to 1 million per day due to rising debts, the head of the country’s National Oil Corporation (NOC) said on Thursday. Production may fall further as oil companies are unable to work under mounting debts, according to NOC chief Mustafa Sanallah. …

One of Libya’s state oil producers said it would have to cut as much as 100,000 barrels a day of output this week, a further sign that a budgetary crisis is threatening the OPEC member’s energy industry. Sirte Oil Co. will be forced to “reduce production and halt it completely …

Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, has held discussions with the General Manager of Total regarding the use of renewable energies in the Libyan oil sector and the impact of lack of budgets on production, as well as development programs. This meeting highlighted the implications of the …

Official statistics have shown that Libya’s oil and gas revenues decreased by 92 per cent last year, as the blockade imposed for months on oil facilities caused the suspension of most export operations. The Central Bank of Libya announced that the revenues of the year 2020 were estimated at 2.9 …

Libya is seeking funding from foreign oil companies to fix its ailing infrastructure after years of war and neglect, the nation’s top energy official said. The state-owned National Oil Corp. was forced to shut down a leaking pipeline on Saturday, which cut the OPEC member’s crude production by around 200,000 …

The Chairman of the Libyan National Oil Corporation (NOC) Mustafa Sanallah has said they are aiming to reach 1.2 million oil barrels per day (bpd) in 2021, adding that this aim is part of the NOC plan for the new year. Sanallah added on Friday that the NOC plan included …

The Russian oil company Tatneft is examining the possibility of resuming its operations in Libya, having ceased its works following the revolution of the 17 February, 2011. The Media East Monitor website reported that the company wished to return and resume production and exploration operations in several locations in Libya. …

Libya’s crude oil production continues to increase as one of its companies has nearly doubled its output to 100,000 barrels per day (bpd) compared to production levels before the blockade of Libyan oil ports and oilfields in January. Libya’s Sirte Oil and Gas Production and Processing Company has nearly doubled …

The 12th OPEC and non-OPEC Ministerial Meeting took place this last week and concluded on Thursday with the participation of the head of the National Oil Cooperation, Mustafa Sunallah, representing Libya and its oil interests. The meeting evaluated the state of the international oil market in terms of supplies, demand …

Libya’s warring sides have agreed to unify forces that protect oil facilities following the United Nations-sponsored talks with the head of the country’s National Oil Corporation (NOC). The talks were held on Monday in Brega, part of the coastal area known as the Oil Crescent. “Today in this historic location, …