AGOCO increases Nafoura field production capacity

By John Lee. Within the framework of the National Oil Corporation (NOC)‘s plan to increase production rates and to implement the targeted programme of work within the framework of the approved extraordinary budget, Arabian Gulf Oil Company (AGOCO) has conducted a stimulation of well Y-01 in the Nafoura non unit field where AGOCO is sole […]

Video: Why are Countries Breaking Libya’s Arms Embargo?

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. A draft UN report accuses foreign nations of worsening civil war. The UN says countries are violating arms embargoes on Libya and worsening the eight-year civil war. A draft report names Jordan, Turkey, Chad, […]

Faregh Phase II Commissioning Boosts Production Capacity

By John Lee. The National Oil Corporation (NOC) has announced the completion of commissioning of the Faregh field Phase II by Waha Oil Company (WOC). On Friday, November 8, 2019, final performance tests were successfully completed. The operation of the plant’s systems – including its surface equipment, pipelines system, gas compressors, gas filtration and drying […]

Weekly Security Report from Whispering Bell

Advertising Feature Whispering Bell produces a 7-10 page report that covers the past week of political, security, and economic events that occurred within Libya, comprehensive data/risk collection, maps for country-wide security events, and includes forward-looking analysis on the political and security situation over the coming weeks. Please click here to download an edited version of […]

Libya Targets Foreign Investors in “Vast” Reconstruction Drive

By John Lee. Libya is reportedly preparing to launch a comprehensive reconstruction program with the support of international organizations including the World Bank. Xinhua quotes Libyan Minister of Planning Taher Al-Juhaimi as saying that the Libyan government is reviewing its five-year development plan by redefining the priorities of some 4,000 projects worth around $100 billion. […]

October Oil/Gas Revenues up 21%

By John Lee. Libya’s National Oil Corporation (NOC) reported October 2019 revenues of approximately 2.2 billion USD, an increase of 381 million USD (21%) compared to September 2019 revenues. NOC’s revenues come from sales of crude oil, hydrocarbon liquids and oil and petrochemical derivative products, in addition to taxes and royalties received from concession contracts. […]

Latest Oil Tenders

By John Lee. The National Oil Corporation (NOC) has advertised new tenders: External Corrosion Management Services and Painting at Sabratha Platform, Mellitah Oil & Gas Asphalted road, Nafusah Oil operations Inspection and Evaluation the Fixed Fire and Gas Detection and Protection Systems, Mellitah Oil & Gas (Source: National Oil Corporation) (Picture: Call for tender written […]