Archive | Oil & Gas

Malta makes proposal to Libya and Italy on continental shelf issue

Malta has made a proposal to Libya and Italy as a possible solution to the continental shelf issue, which has been pending for years, Foreign Minister Tonio Borg said this morning. An agreement is needed so that oil exploration can take place. Speaking in Parliament during the budget debate on the financial estimates of the […]

Libya oil output climbs to 840,000 bpd -NOC

Libyan oil production has increased to 840,000 barrels per day (bpd) as companies resume output following the eight month war, the National Oil Corporation (NOC) said in a statement. “The National Oil Corporation announces that crude oil production reached 840,000 barrels per day on Tuesday,” it said in the statement on its website. “Efforts being […]

Opec supply hits three-year high on Libya return

Opec oil output has risen in November to a three-year high due to increased supplies from Angola and a further recovery in Libya’s production, a Reuters survey found on Tuesday. Supply from all 12 members of the Organisation of the Petroleum Exporting Countries is expected to average 30.27 million barrels per day (bpd) this month, […]

Libya’s Sirte Oil starts Alraqhobh output at 8,000 bpd

Libya’s Sirte Oil has begun crude production at the Alraqhobh field at a rate of 8,000 barrels per day, the National Oil Corporation (NOC) said on its website. “This production represents about 9 percent of the total capacity of the company, which seeks to reach maximum production rates as soon as possible,” the NOC said […]

Newsmaker: Technocrat “oil man” takes charge of Libya lifeline

Libya’s new oil minister is seen as the right kind of technocrat, deeply experienced yet not too closely tied to the former regime of Muammar Gaddafi, to help restore the OPEC member’s economic lifeline after eight months of war. Abdulrahman Ben Yazza is in his mid-50s and brings experience from both Libya’s oil industry and […]

Eni to reach full Libyan production by June

Italian gas and oil company Eni says that its Libyan operations will reach prewar production of 280,000 barrels of oil equivalent a day by June. Eni CEO Paolo Scaroni told an oil and gas seminar on Thursday that daily production had already reached 200,000 barrels of oil. The remarks were authorized for release on Friday. […]

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Libya’s oil flows at 750,000 bpd, recovery

Libyan oil output has climbed to 750,000 barrels per day (bpd) and remains on track to reach pre-war production levels by the end of next year, the chairman of the National Oil Corporation (NOC), Nuri Berruien said on Thursday. Before the February uprising, Libya pumped some 1.6 million bpd, but civil war brought flows to […]

Vitol, Glencore win Libyan oil products tender

Trading giants Vitol and Glencore have won tenders to supply oil products to Libya’s government until the end of the year in a move that rivals said was increasing their chances to snap lucrative deals to export Libyan oil next year. Libya’s National Oil Corporation was seeking to buy up to 450,000 tonnes of gasoline, […]