Libya's NOC Warns of Dangers at Oil Ports
The chairman of Libya's National Oil Corp (NOC) on Saturday warned against the risk of a disaster at the country's oil ports due to a growing military presence with storage tanks held at capacity for months due to a blockade."Oil ports are closed, exporting is halted.
NOC Condemns Calls for Oil Export Terminals to be Shut
Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what they called the internationally-recognized…
NOC Plans Production Boost
Libya's National Oil Corporation planned to raise production to 2.1 million barrels per day (bpd) by 2024, Chairman Mustafa Sanalla said in a statement on Wednesday.Sanalla added that NOC was on track to reach more than $20 billion in annual revenue.There were also plans to restore production at damaged oilfields and to raise gas production to 3.5 billion cubic feet by 2024.The plans will cost $60 billon, including $15 billion from public funds.(Reporting by Alaa Swilam and Aziz El Yaa
NOC Declares Force Majeure on Biggest Oilfield
Libya's National Oil Company (NOC) on Monday declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group.NOC said the shutdown would result in a production loss of 315,000 barrels per day (bpd) at its biggest oilfield, and an additional loss of 73,000 bpd at the El Feel oilfield.Production at the Zawiya refinery was also at risk due to its dependence on crude oil supply from Sharara…
Bahr Essalam Phase Two to Finish by End 2018
Seven remaining wells are expected to be online at Libya's Bahr Essalam offshore gas field by the end of the year, the Libyan National Oil Corporation (NOC) said in a statement on Sunday.The statement came after a meeting between NOC Chairman Mustafa Sanalla and Eni CEO Claudio Descalzi.
Eni to Acquire Half of BP's Libya Oil and Gas Assets
Italy's Eni has agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake and become the operator of the exploration and production sharing agreement (EPSA) in Libya, in which the Libyan Investment Authority holds the remaining 15 percent, the companies said in a statement.The companies…
Eni to Acquire Half of BP's Libya Oil and Gas Assets
Italy's ENI agreed to buy half of BP's 85 percent stake in a Libyan oil and gas licence with the aim of resuming exploration next year, the companies said on Monday.Eni will acquire the 42.5 percent stake from BP and become the operator of the exploration and production sharing agreement (EPSA) in Libya, in which the Libyan Investment Authority holds the remaining 15 percent, they said in a statement.The two companies, along with state-owned National Oil Corp, signed a letter of intent
Gunmen Attack Headquarters of Libya's State Oil Firm
Several armed men attacked the headquarters of Libya's National Oil Corporation (NOC) in the capital Tripoli on Monday, killing at least two oil staff, a security official said.In the first attack of its kind against the top managers of Libya's state oil industry, two of the gunmen were also killed and at least 10 NOC staff wounded, officials said.Security forces said they had regained control…
Key Oil Export Terminals Reopen in Libya
Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya's oil output.Production and export operations would be restored "within the next few hours", an NOC statement said, although the restart at Es Sider and Ras Lanuf, where workers were evacuated and storage tanks damaged in fighting last month…
Libya's Oil Output Down Sharply in 2018
Libya's national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation (NOC) said in a statement on Monday.The NOC had not previously stated how high the country's production had climbed after partially recovering to more than 1 million bpd a year ago.In the video statement dated July 8 the chairman of Tripoli-based NOC, Mustafa Sanalla, said the Feb.
NOC Declares Force Majeure on Zueitina, Hariga Liftings
Libya's National Oil Corporation (NOC) declared force majeure on loadings from Zueitina and Hariga ports on Monday, it said in a statement. "Despite our warning of the consequences and attempts to reason with the LNA General Command, two legitimate allocations were blocked from loading at Hariga and Zueitina this weekend," Tripoli-based NOC Chairman Mustafa Sanalla was quoted as saying.
Oil Tight on Libyan Port Struggles
Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have struggled to find buyers because Western nations insist they will deal only with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli.
Struggle to Control Libyan Oil Ports Adds to Global Supply Worries
Libyan oil production could face protracted disruption as factions in the east have sought to seize control of crude exports, adding pressure to a tight global market.Eastern factions have tried to take over oil exports in the past yet struggled to find buyers as Western nations insist they will only deal with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli.But this has not stopped eastern forces from seeking control of the ports…
Libya Oil Output Slashed by Port Attacks
Libya has lost some 400,000 barrels per day (bpd) of oil production in recent days because of militant attacks at the Ras Lanuf and Es Sider ports, the head of the National Oil Corporation, Mustafa Sanalla, said on Tuesday.Sanalla said there were still militants present in the area of the terminals, which were closed on Thursday following an early morning attack by opponents of eastern-based Libyan commander Khalifa Haftar."We look to fight the fire first of all…
Libya's Sharara Oilfield Open, Force Majeure Lifted
Libya's Sharara oilfield reopened on Tuesday following a three-day shutdown after a pipeline valve was closed, the National Oil Corporation (NOC) said in a statement. The NOC said it had also lifted force majeure on loadings of Sharara crude from Zawiya oil terminal. Sharara is Libya's biggest field and has been pumping up to 280,000 barrels per day (bpd) in recent weeks. The field has been affected by repeated shutdowns because of protests by armed groups and oil workers.
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…
Libyan Oil Output Rises after Port Fighting Ends
Libya's oil production has reached 700,000 barrels per day (bpd), the National Oil Corporation (NOC) said on Wednesday, recovering from a drop earlier this month caused by fighting at two key oil ports. "We are working very hard to reach 800,000 barrels by the end of April 2017, and, God willing, we will reach 1.1 million barrels next August," NOC Chairman Mustafa Sanalla was quoted as saying in a statement.
Libya: Air Strikes Aimed to Regain Oil Ports
East Libyan forces carried out air strikes around major oil ports on Saturday as they sought to regain control of the area from a rival faction, a military spokesman said. The eastern-based Libyan National Army (LNA) and allied forces retreated on Friday from Es Sider and Ras Lanuf, two of Libya's largest export terminals, as a faction known as the Benghazi Defence Brigades (BDB) attacked.
Libya Won't Take Part in Any OPEC Cuts for 'foreseeable future'
Libya's National Oil Corporation (NOC) said on Sunday it would not take part in any OPEC production cuts for the "foreseeable future" as the North African country tries to bring crude output back towards pre-conflict levels. "Libya is in such a dangerous economic situation, there is no way it can participate in OPEC production cuts for the foreseeable future," NOC Chairman Mustafa Sanalla told delegates at the Arab-Austrian Economic Forum in Vienna on Friday…
Newly Pumped Crude Leaves Reopened Libyan Port of Ras Lanuf
A tanker left the Libyan port of Ras Lanuf on Monday carrying the first freshly produced crude oil to be exported since the terminal reopened in September, a port official said. The tanker shipped 600,000 barrels and a second tanker was due to dock at Ras Lanuf shortly, the official said. Ras Lanuf is one of four ports that forces loyal to eastern commander Khalifa Haftar seized in September. Three had been blockaded by a rival faction.
