Libya's east-based government will close all oilfields
The Libyan government in the east said Monday that all oilfields were closing, stopping production and exports. However, Tripoli's National Oil Corp., which controls Libya's oil resources, did not confirm this. Libyan factions have been locked in a struggle for control over the central bank and its oil revenues. Khalifa haftar, the eastern Libyan military commander, controls most of the oilfields in Benghazi.
Eni Chief Meets Libyan PM Sarraj
Italian oil major Eni said its Chief Executive Claudio Descalzi had met with the head of the U.N.-backed Libyan government Fayez al-Sarraj on Monday. The meeting with Prime Minister Sarraj, who is head of the Presidential Council of the Libyan government of National Accord, focused on the economic and political development of Libya, Eni said. Descalzi also met the chairman of Libya's state oil company Mustafa Sanalla to discuss possible future developments in the country…
Libya Oil Guards Say Closed Two Oilfields over Payment Delays
A Libyan armed force controlling some of the country's southern oilfields has stopped pumping at two of them because the government has not paid the funds needed to maintain security operations, a brigade commander said on Tuesday. The closures underscore the new Libyan government's complex task in reviving oil production, which has been battered by strikes, protests and Islamist militant attacks since the fall of Muammar Gaddafi in the 2011 uprising.
Libya Oil Guards to Close Two Oilfields
A Libyan armed force controlling some of the country's southern oilfields will close two of them down because the government has not paid the funds needed to maintain security operations, a brigade commander said on Tuesday. The closure underscored the new Libyan government's complex task in reviving oil production, which has been battered by strikes, protests and Islamist militant attacks since the fall of Muammar Gaddafi in the 2011 uprising.
Libyan Government Forces Attack Tripoli Airport
War planes from Libya's internationally recognised government attacked the last functioning airport in Tripoli, the capital controlled by a rival administration, on Monday, officials said, the latest in a string of tit-for-tat strikes. Rival governments and parliaments are battling for control of the North African country and its oil resources four years after the ousting of Muammar Gaddafi.
No Chance of OPEC Output Cut, Even After Oil Dips
Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, even though they dipped below $50 a barrel this week. OPEC decided against limiting production at its last meeting on Nov 27, despite misgivings from non-Gulf members, after Saudi Oil Minister Ali al-Naimi said the group needed to defend market share against U.S. shale oil and other competing sources.
Libyan Port Fire Destroys 1.8m Barrels of Crude
A fire raging at an oil storage facility at Libya's Es Sider port has destroyed up to 1.8 million barrels of crude, a top oil official said on Tuesday. Total damage so far, including the lost oil, is estimated at $213 million, al-Mabrook al-Buseif, the top oil official of the recognised Libyan government, told Reuters. (Reporting by Ayman al-Warfalli; Writing by Ulf Laessing; Editing by David Goodman)
Libyan Official: OPEC to Cut Above-Target Output
Believes OPEC will reach agreement on output cut; Libyan OPEC governor giving personal, not govt view. OPEC will agree as a minimum step to remove crude from the market that it is pumping above the agreed target, a Libyan oil official said, to support prices that hit a four-year low. Oil ministers from OPEC meet on Nov. 27 to consider adjusting their output target of 30 million barrels per day (bpd).
Libyan Government: Ports, Oil Fields Safe
Libyan oil ports and fields are safe and under government control, the country's interior minister said on Friday after visting the eastern Brega port. "This visit is a message to the world and Libya that the Libyan state is controlling the oilfelds and ports," Omar Sanaki told Reuters after the visit with several lawmakers. Brega was the site of a recent oil protest. Reporting by Feras Bosalum
Armed Group Takes Libyan Government, Oil Company Websites
A self-declared Libyan government set up by an armed group that seized the capital in August has taken over the websites of the state administration and the national oil company, adding to confusion over who is running the country. With Libya's official government and parliament now operating from towns hundreds of miles east of Tripoli, the armed group, from the western city of Misrata, that has seized ministry buildings in the capital now controls their websites.
2 ports in Libya to Resume Oil Exports
U.S. crude oil futures on Monday morning to keep steady, OPEC (OPEC) member countries confirmed that the two main ports in Libya would resume oil exports. 0011GMT, the U.S. August crude futures $ 103.76 a barrel, unchanged from Friday, but last Thursday's settlement price fell $ 0.3. On Friday, the United States every public holiday, the day is no settlement price. Libyan government officials said Sunday…
Libya's Zueitina Oil Port Reopening Delayed
Technical problems have delayed the reopening of Libya's eastern Zueitina oil export terminal after the government reached a deal with rebels to end an eight-month blockade of the port, a minister said on Sunday. Two weeks ago, the Tripoli government reached an agreement with rebels in the restive east to end their occupation of four oil ports which had halted vital exports. Under the plan…
Oil slips below $106 as Libya deal eases supply worries
Libyan rebels, govt agree to reopen occupied oil ports. Brent crude oil fell below $106 a barrel on Monday, snapping a two-day rise, after Libyan rebels occupying four eastern oil ports agreed to end an eight-month blockade, raising the prospect of increased supply to world markets. The end to the port standoff is removing some supply worries that have helped push prices as high as $112 for the year.
U.S. Crude Jumps $1 on Jobs Data, Libya Doubt
Crude oil prices on both sides of the Atlantic rose on Friday as data showed strong jobs growth in the United States and investors cast doubt on reports Libya's oil ports were about to reopen. The March U.S. non-farm payrolls report showed 192,000 jobs were added in March in major test of the argument that the economic weakness of January and February was due to bad weather. Expectations…
North Sea Crude: Forties Stronger, May Supplies Down
North Sea Forties crude differentials rose for a third day on Friday as the May loading schedule showed a drop in supplies from this month. The supply of North Sea crude that underpins the Brent benchmark will average 774,000 barrels per day (bpd) in May, according to loading schedules provided by trade sources on Friday, down from April. Planned maintenance at Oseberg will reduce supply of that grade to two cargoes…
