Archive | Oil & Gas

Port Blockage Costs Libya $1bn in Lost Oil Revenues

By John Lee. The National Oil Corporation (NOC) has announced a drop in production as a result of the blockade of ports and pipelines to the current level of 135,745 b/d, as of  Monday February 17, 2020, with losses exceeding 1 billion USD  at  1,616,886,132 USD. The NOC renews its call for all blockades to be lifted to allow the corporation to resume production […]

Latest Oil Tenders

By John Lee. The National Oil Corporation (NOC) has advertised new tenders: Establishing and updating of MOG quality procedures, Mellitah Oil and Gas VSAT Internet Services, Mellitah Oil and Gas Upgrade of oil metering system at Tobruk Terminal- Project No: K-62, Arabian Gulf Oil Company (AGOCO) Replace MCC & generator protection & control panels of […]

19% Drop in Libyan Oil Revenues in January 2020

By John Lee. The National Oil Corporation (NOC) has reported  January 2020 revenues of approximately  1.77  billion USD ($1,768,879,320.49),  a  decrease  of  around  418  million USD (19% ) on  December 2019 revenues and an increase of around 167 million USD (10.4%) compared with  January last year. NOC’s revenues come from sales of natural gas, crude oil and assorted […]

Zallaf Opens New Office near Erawin Field

By John Lee. Zallaf Oil & Gas Exploration and Production Company, a subsidiary of the National Oil Corporation (NOC), opened a new operations office in Awinat on Sunday February 16, 2020, to follow up on the development of the Erawin field adjacent to the city. The company has already started operations in the region; and production […]

UN Votes To Extend Libya Oil Sanctions

Security Council Extends Measures against Illicit Export of Petroleum from Libya, Adopting Resolution 2509 (2020) The UN Security Council has extended the authorization of measures against the illicit export of crude oil and other petroleum products from Libya until 30 April 2021, continuing to allow Member States to inspect designated vessels on the high seas. Adopting […]

Zawiya Refinery Shut Down, causing Further Losses

The National Oil Corporation (NOC) has confirmed that it was forced to shut down the Zawiya refinery on Saturday, February 8, 2020 as a result of a valve closure in the Hamada region, on the main pipeline between Sharara field and Zawiya refinery, halting production at the field. The refinery shutdown will exacerbate the problem […]

Latest Oil Tenders

By John Lee. The National Oil Corporation (NOC) has advertised new tenders: Rental of workover rigs, Sirte Oil Company (SOC) Drill bits, Arabian Gulf Oil Company (AGOCO) Casings and tubing, Arabian Gulf Oil Company (AGOCO) Wellheads, Arabian Gulf Oil Company (AGOCO) Upgrade the existing Fibre Optic backbone, Mellitah Oil and Gas Construction of new HVAC […]

Divide deepens as Eastern Forces Close Oil Ports

By George Mikhail for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Libya Business News. Libyan divide deepens as eastern forces shut down oil ports A new weapon is being used as a means of pressure in the Libyan conflict. Namely, Libya’s oil. The Tripoli-based National […]