Archive | Oil & Gas

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, […]

Libyan Bouri oil field resumes output at 10,000

Libya’s Mellitah Oil and Gas Company has restarted oil output from the offshore Bouri field, the National Oil Corporation said, adding to a relatively rapid resumption in output since the end of the country’s conflict. Output from the field has been resumed at an initial rate of 10,000 barrels per day (bpd) from the platform […]

Libyan tankers sailing again after war, sanctions

About half of state-owned Libyan shipping firm’s 24-strong fleet of tankers is sailing again after months of paralysis due to sanctions and a freeze on assets belonging to the family of former leader Muammar Qaddafi, a company manager said. The General National Maritime Transport Company (GNMTC) was on US sanctions lists during the Libyan conflict, […]

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Libya New Oil Minister Ben Yezza Was NOC Official, Eni JV Chair

Libya’s newly appointed oil minister headed a commission that oversaw the bidding for drilling rights by international oil companies, and was chairman of an Eni SpA (ENI)Libya joint venture in the country prior to his new post. Ben Yezza previously served as chairman of Eni Oil Co., a joint venture with Libya’s National Oil Corp. […]

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