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…
Libya's NOC Calls for End to Western Oil Pipeline Blockades
Libya's National Oil Corporation (NOC) called on Monday for the reopening of pipelines from major oil fields in the south west of the country. Last week the NOC said it would restart exports from the eastern "Oil Crescent" ports of Es Sider, Ras Lanuf and Zueitina, which were seized on Sept. 11-12 by forces loyal to eastern commander Khalifa Haftar.
Libya's NOC Says Tanker Will Transfer Oil from Threatened Port
Libya's National Oil Corporation (NOC) said on Thursday that rival forces had agreed to let a tanker dock at Zueitina port to load oil and take it to a safe place. The NOC expressed concern earlier this month after reports of possible clashes between the Petroleum Facilities Guard (PFG) and forces loyal to eastern commander Khalifa Haftar.
Libya Negotiating for Two Refineries
Libya's official government is in talks with British Virgin Islands-based Pavilion Recovered Oil to build two small refineries, one in the east and the other in the south of the oil producer, it said on Tuesday. The refineries would each have a production capacity of 6,000 barrels per day (bpd), a government spokesman said. Premier Abdullah…
Libya to Export Oil From East This Week
Libya is set to export more than two million barrels of crude oil this week from two ports in the east where output has topped 245,000 barrels per day, oil officials said on Monday. Rising exports from the ports of Hariga and Zueitina offer some hope for the OPEC member state's oil sector, which has been battered by Islamist militant attacks and fighting between rival factions.
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.
Libyan Oil Exports All but Shut Off as Violence Spreads
Libya's oil exports have collapsed to just a trickle from two small offshore platforms, officials and industry sources said on Tuesday, as violence in the country has shut all major ports. Not a single crude oil tanker has departed Libya in the past week, industry sources say and ship tracking shows, with supplies to the last operating port of Hariga disrupted over the weekend by a pipeline fire.
Libya's Oil Output Wanes as Fighting Shuts Ports
Hariga fields still producing but Libya's current output a fraction of pre-2011 levels. Libya is producing 128,000 barrels of oil a day from fields connected to far eastern port of Hariga, an oil official said on Monday, while fighting halts work at major ports Es Sider and Ras Lanuf. Output from the OPEC member nation remains at a fraction…
Oil Prices Fall on Sluggish Demand, Ample Supply
Crude oil futures fell on Monday as ample supply and slowing economic growth in Europe and China outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries (OPEC). Concerns over extended stagnation in Europe, which could pull down other economies, were highlighted at the G20 meeting in Australia on Sunday.
Oil Below $98, Demand Sluggish, Ample Supply
Weak economic outlooks in Europe, China weigh; Investors look past possible OPEC output cut. Libya fighting closes refinery, cuts oil output. Brent crude oil fell below $98 a barrel on Monday, dropping for the third session in four, as sluggish demand and ample supplies outweighed expectations of a cut in oil output from the Organization of the Petroleum Exporting Countries (OPEC).
Libya's Zawiya Refinery, El Sharara Field Both Down
Libya's 120,000 barrels a day Zawiya refinery has been shut down after storage was damaged in fighting between armed groups, an oil ministry official said on Thursday. The El Sharara field feeding the refinery also remains closed, said Ibrahim al-Awami, head of the inspection and measurement department at the oil ministry. He said he did not know when the refinery and oil field would resume work.
Oil Steadies Around $99 on Possible OPEC Output Cut
Brent crude oil steadied at around $99 per barrel on Wednesday, after jumping on Tuesday on hopes the Organization of the Petroleum Exporting Countries (OPEC) would help reduce a global supply glut by cutting output. Prices rose by the most in two-and-a-half months on Tuesday after OPEC Secretary General Abdullah al-Badri said the group could trim its 2015 output target by 500,000 barrels per day (bpd).
Libya's El Sharara Field Shuts Amid Fighting Damages
Libya's El Sharara field has shut down production after a tank was damaged at the Zawiya refinery during fighting between armed groups in the area, an oil ministry official said on Wednesday. "There is no production at El Sharara anymore," Ibrahim El-Awami said, adding that it had previously produced between 190,000 and 200,000 barrels per day. The Zawiya refinery is still working, Awami said.
Brent Crude Keeps Gains, Stays Near US$99
Brent crude steadied around $99 per barrel after briefly hitting an intra-day high of $99.09, on hopes the Organization of the Petroleum Exporting Countries (OPEC) will cut output and reduce a global supply glut. * U.S. The European benchmark sank to a 26-month low this week on continued worries about rising supplies and slower demand growth in China and Europe…
Libya Deploys Special Forces to Protect Petrol Stations
Libya is deploying special forces to protect petrol stations in the capital Tripoli packed by angry motorists trying to refill, the government said, as the state oil firm struggles to bring in fresh supplies. Petrol stations across Tripoli have seen for almost two weeks queues stretching sometimes kilometres, adding to the frustration of Libyans exhausted by chaos and violence.
Many Libyan Petrol Stations Shut For Week
Angry motorists in Libya's capital Tripoli queued to fill up on Thursday, some having slept in their cars for nights as petrol stations awaited promised supplies from a state oil firm. "I have been queuing in front of this gas station for two days," said one driver in a long line at a petrol station in central Tripoli. "It is very depressing.
Libya Spending $50 bln Despite Falling Oil Revenues
Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year, even though lawmakers have not voted on it. The move might force the central bank to use more of its reserves as the budget is not backed up by oil revenues which have fallen to $1 billion a month…
Libyans Queue for Petrol, State Firm Blames Security Problems
Libya has received three tankers with fuel imports in the past few days but a lack of security at petrol stations has made it hard to get the supplies out, the state oil firm said on Monday. Libyans have been forced to queue for hours for petrol in the capital Tripoli over the past few days, at times sparking angry exchanges. Fathi al-Hasmi…
Asia-Pacific Crude-Condensate Remains Lackluster
The Asia-Pacific crude and condensate remained weighed by limited demand from refiners returning from maintenance, but may find some support from Brent's narrowing gap to Dubai swaps as well as the prospect of lower supply from Libya. Shell sold 650,000 barrels of Northwest Shelf (NWS) condensate loading July 8-12 to Samsung Total at around $2.50 per barrel below Dated Brent…
Libya's NOC Keeps Force Majeure in Place at Eastern Oil Ports
Libya's National Oil Corp (NOC) has yet to lift force majeure at the eastern ports of Zueitina and Hariga following a deal with federalist rebels to reopen them after a nine-month blockade, an oil ministry official said on Tuesday. "Force majeure is still in place, it has not been lifted. NOC has not instructed the ports to export oil yet," Ibrahim al-Awami said.
