Sarir Output Suspended due to Hariga Port Protest
A protest over wages that has shut the eastern Libyan oil terminal of Hariga has forced the operator of the Sarir oil field to suspend production of 100,000 barrels per day, an oil company spokesman said on Tuesday. Omran al-Zwai, spokesman for Libya's eastern state oil firm AGOCO, said production at the Messla oil field would also be reduced to a minimum within four or five days if exports continued to be blocked from Hariga. Exports were halted on Sunday after a group of Petroleum Facilities Guard (PFG) travelled to the port to protest over what they said were unpaid salaries.
NOC Cancels Two Oil Cargoes in Dispute with East
Libya's National Oil Corporation (NOC) based in Tripoli said on Thursday it had cancelled two oil cargoes from its May export program because a rival NOC in the east is blocking exports from Marsa al-Hariga. Mohamed el-Harari, spokesman for the NOC in Tripoli said in a statement that the standoff was costing Libya $10 million a day, and that revenue of $120 million had been lost so far. The NOC in Benghazi, which is loyal to Libya's eastern government, tried last month to export a first cargo of oil but the tanker was blacklisted by the United Nations and forced to return, deepening the rift between the rival NOCs.
Libya Eastern Oil Company Blocks Tanker Loading Crude for Tripoli Rival
An oil company set up by Libya's eastern government is preventing a tanker from loading a cargo for its Tripoli rival, the National Oil Corporation (NOC), officials said on Tuesday. The eastern company, also calling itself the National Oil Corporation (NOC), ordered workers at Marsa el-Hariga port in eastern Libya not to load the tanker, which had been waiting for two days, a port official said. An eastern NOC official said the move was in line with the east's attempt to export a shipment of 650,000 barrels of oil last week in defiance of the authorities in Tripoli, part of a power struggle between Libya's rival administrations.
Blacklisted Tanker Returns to Libya's Zawiya Port
A tanker that Libya's rival eastern government had been using to try to export oil in defiance of the Western-backed administration in Tripoli returned to the country on Saturday, after it was blacklisted by the United Nations, the state oil company said. The eastern government's parallel oil company had hoped to sell the cargo of 650,000 barrels, but the United Nations measure required states to ban it from entering any port. Two competing governments, one in Tripoli and one in the east, backed by armed factions have struggled for control of the North African OPEC state since 2014.
Blacklisted Oil Tanker Returning to Libya
An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export crude oil led to the ship being blacklisted by the United Nations Security Council. The Distya Ameya tanker is heading to the western Libyan port of Zawiya, said Nagi al-Maghrabi, chairman of the National Oil Corporation (NOC) set up by Libya's rival eastern government in parallel to the Tripoli-based NOC. The Tripoli NOC is recognized internationally as the legitimate seller of Libyan oil.
Oil Corporation Allied to East Libya Govt Loading Tanker for Export
A parallel national oil corporation allied to Libya's eastern government was loading a shipment of 650,000 barrels at the Marsa el-Hariga terminal on Monday in an effort to sell oil for the first time, officials said. Loading of the Indian-flagged Distya Ameya had started on Monday morning and would be finished later in the day, an official with the eastern NOC in Benghazi said. Eastern NOC head Nagi al-Maghrabi confirmed by text message that the tanker was loading, and a Hariga port official said the tanker was expected to sail later on Monday.
Glencore Seals Libyan Oil Deal in Scramble for Profits
Press release - Trading house Glencore has secured a deal to buy as much as half of the oil Libya is currently exporting, market sources said, as it looks to boost trading to help offset flagging profits from mining. For war-torn, cash-strapped Libya it offers steady sales to international buyers and shifts to Glencore the risks associated with loading oil and chartering vessels at ports where operations have become more unpredictable due to the conflict in the north African nation. Under the arrangement with Libya's state-run National Oil Corp.
Glencore Seals Libyan Oil Deal
Deal is for Sarir, Messla crude exported from Marsa el-Hariga; arrangement with National Oil Corp began in September. Trading house Glencore has secured a deal to buy as much as half of the oil Libya is currently exporting, market sources said, as it looks to boost trading to help offset flagging profits from mining. For war-torn, cash-strapped Libya it offers steady sales to international buyers and shifts to Glencore the risks associated with loading oil and chartering vessels at ports where operations have become more unpredictable due to the conflict in the north African nation. Under the arrangement with Libya's state-run National Oil Corp.
Libya in Talks to Reopen El Feel, El Sharara Oilfields
Libyan authorities will try during the month of Ramadan to reopen pipelines for El Feel and El Sharara oilfields and Zueitina port that have been blocked for weeks by protests and disputes, the state oil company said on Tuesday. The two major oilfields and oil terminal have been shuttered by protesters demanding jobs, disputes among security guards and the country's conflict between two rival governments battling for control of the north African OPEC state. "The efforts are being carried out by elders, local municipalities, and mediators," National Oil Corporation spokesman Mohamed Harari said, adding talks would take place during Ramadan.
Libya's Hariga Port Reopens, Security Strike Ends
Libya's eastern port of Hariga reopened on Wednesday after security guards ended a strike over salary payments, and a tanker has started lifting about 700,000 barrels of crude, an oil official said. The guards had staged the strike on Tuesday, the latest in a series of such walkouts. "The port management persuaded the guards to end the strike," the official said, asking not to be named. OPEC producer Libya has managed to boost output to almost 600,000 barrels per day (bpd) by reopening two western fields and keeping eastern ports open despite militant attacks and fighting between factions allied to two rival governments. But the oil sector is facing uncertainty.
Libya Plans to Boost Production at Sarir, Messla Fields
Libya aims to boost production at the southeastern Sarir and Messla oilfields feeding the Hariga terminal to 180,000 barrels a day, a spokesman for the state operator said on Wednesday. Libya has restarted both fields, shut after a pipeline blast, which halted crude supplies to Hariga, the biggest onshore export port still working amid growing chaos in the OPEC member country. On Tuesday, pumping levels reached around 40,000 barrels, an industry source said. "We want to increase output gradually to 180,000 barrels a day, said Omran al-Zwai, spokesman for Arabian Gulf Oil Co (AGOCO), which operates the field and Hariga port.
Libya Pipeline Repaired, Yields 30,000 bpd to Hariga
Libya has resumed pumping crude from its southeastern Sarir and Messla fields to Hariga port at a rate of around 30,000 barrels a day, an industry source said on Monday, bolstering a potential recovery in exports after Zueitina port opened at the weekend. Higher oil exports, which had fallen to a trickle as violent conflict between two rival governments and parliaments disrupted supplies, may bring in badly needed revenues for the OPEC member as it faces a growing public finance crisis. "So far small volumes are flowing," said Omran Zwei, spokesman for state oil firm operator AGOCO.
Oil Dips, IEA Warns Stocks Near All-time High
IEA says downward market pressures may not have run their course. Brent crude fell below $58 a barrel on Tuesday after the International Energy Agency (IEA) warned that oil prices may decline as stocks continue to increase this year. Oil stocks held by countries in the Organisation for Economic Cooperation and Development may come close to the all-time high of 2.83 billion barrels in the middle of 2015, said the IEA, which advises the West on energy policy. "Despite expectations of tightening balances by end-2015, downward market pressures may not have run their course just yet," the IEA said in a monthly report.
Brent Nearing Four-Year Low of $81
OPEC could cut output by 500,000 bpd at November meeting. U.S. crude stocks rose by 800,000 barrels. Brent crude slipped near $81 a barrel on Wednesday, hovering just above a four-year low as prices are pressured by the growing oil glut created by the U.S. shale boom and the restart of Libya's largest operational oilfield. With oil prices down 30 percent since June, delegates in the Organization of the Petroleum Exporting Countries (OPEC) are starting to suggest they may push for an informal output cut of around 500,000 barrels per day (bpd) when the producer group meets in Vienna on Nov. 27.
Libya's Hariga Port, El Sharara Oilfield Still Closed
Protesters at Libya's 120,000-barrel-per-day Hariga port are still blocking oil exports, an oil official said on Tuesday. "We are trying to solve the issue," the official said. "Talks are ongoing." The protesters say they have not been paid, he said. Reporting by Ayman al-Warfalli
Libyan Protesters Stop Oil Exports from Eastern Hariga Port
Libyan state security guards have started a protest at the eastern Hariga oil port, banning any oil exports, a Libyan oil official said on Saturday. A tanker had been waiting for three days to lift oil but the guards did not allow it, the official said, asking not to be named. The port is only open for fuel imports, he added. (Reporting by Ayman al-Warfalli; Writing by Ulf Laessing, editing by William Hardy)
Oil Below $97 on Supplies, Strong Dollar
Abundant supply keeps pressure on crude; Dollar at four-year high. Libya production rises, Hariga port back to normal. Brent crude oil dipped further below $97 a barrel on Thursday as abundant supply and a strong dollar outweighed concerns about threats to supply posed by fighting in the Middle East. The dollar hit a four-year high, dampening demand for commodities priced in the U.S. currency at a time when global economic growth is already lacklustre, particularly in the euro zone and China. The euro reached a 22-month low as speculation grew that the region will need another stimulus package to spur growth. Brent fell by 10 cents to $96.85 a barrel by 1031 GMT.
Libya's Hariga Port Still Closed by Protesting Guards
Libya's eastern-most oil export terminal, Hariga, was still closed on Friday by protesting oil guards waiting for their salaries to be transferred, a spokesman for the operating company said on Friday. Hariga is run by the Arabian Gulf Oil Company, a state-owned subsidiary of National Oil Corp (NOC). The spokesman said that funds to cover the salaries had been transferred by the Ministry of Finance to NOC, but still needed to be transferred to the Petroleum Facilities Guards for distribution to its employees. The port was shut down at the beginning of last week. Two oil tankers have been waiting to load since then.
Oil Slips Below $110 on Profit-taking, Stronger Dollar
U.S. U.S. Brent crude oil slipped below $110 a barrel on Wednesday, dragged down by a stronger dollar and profit-taking from a rally driven by geopolitical tensions in Ukraine and Libya as well as positive U.S. demand growth data. Brent crude gave up gains made earlier in the session to fall 35 cents to $109.67 by 1356 GMT as traders booked profits. U.S. oil also reversed earlier gains to fall 38 cents to $103.73 after closing down the previous day. Orders for long-lasting U.S. manufactured goods unexpectedly rose and consumer confidence perked up, overnight U.S. data showed, helping push the dollar to an eight-week high.
Libya Oil Guards Protest at Hariga Port, Disrupt Operations
A brigade from Libya's Petroleum Facilities Guard has been protesting at the country's Hariga port to demand salary payments and disrupting operations there, an official from state-run oil company AGOCO said on Tuesday. The official said the protest was interrupting work at the port, where full storage tanks have forced a stoppage of production at Sarir oilfield and a reduction at Messla oilfield. "The production of Sarir oilfield is zero because it has been closed as storage at Hariga oil port is full," a spokesman for state-run oil firm AGOCO said.
