Tag Archives | Marathon Oil

GNA to examine Total-Marathon Deal

By John Lee. According to a report from Reuters, Libya is considering whether to intervene in Total‘s $450-million deal to buy Marathon Oil’s stake in the Waha oil field. Officials told the news agency that the National Oil Corporation (NOC) may be interested in buying the 16.33-percent stake, possibly with funds from Libya’s $67-billion sovereign wealth […]

Total buys Marathon’s Waha Oil Concession

Marathon Oil Corporation has announced it has signed and closed on the sale of its subsidiary, Marathon Oil Libya Limited, which holds the Company’s 16.33 percent non-operated interest in the Waha concessions in Libya, to a subsidiary of Total S.A. (Elf Aquitaine SAS) for cash consideration of $450 million. The divestiture represents a complete country […]

Clashes hit Libya’s Crude Oil Output

By John Lee. According to a report from Bloomberg, Libya’s crude output has fallen 11 percent as clashes over the past 10 days have led to the closing of some oil export terminals. It claims that production is down from about 700,000 barrels per day (bpd) to around 620,000 bpd as Es Sider, the country’s […]

Waha Oil to Rent Bulayla Tower

The Waha Oil Company is expected to finalise a LD 70-million, 10-year, lease agreement by the end of the month for the taller of the two Bulayla Towers in Tripoli, according to a report from Libya Herald. The 34-story building is owned by Datamon Company for Real Estate Investments, and comes with its own helicopter […]

Waha Oilfield Resumes Operations

Libya has resulted normal operations had resumed at Waha oilfield. A spokesman for the state-owned National Oil Corporation (NOC) told The Wall Street Journal, that operations resumed at the giant field on Monday. Waha, which normally produces 160,000 bpd, supplies crude to the Es Sider terminal, which restarted exports using stored oil last week. The […]

Marathon Oil’s Change of Mind

By Padraig O’Hannelly. The decision by Marathon Oil to stay in Libya, retaining its stake in the Waha Oil Company (WOC), is starting to look a little odd to some people. If we are to take the reports at face value, Marathon updated the National Oil Corporation (NOC) on the status of the project and […]

Marathon’s Waha Deal is “Off”

Libya has blocked efforts by US company Marathon Oil to sell its stake in Waha Oil Company (WOC). Oil and Gas Minister Dr. Abdulbari Alarusi [Al Arusi] (pictured) said on Saturday: “They are staying here … They told us they will continue with us.” Just weeks ago Libya’s National Oil Corporation (NOC) was reported to be […]

NOC Interested in Marathon Oil Stake

Libya’s National Oil Corporation (NOC) is interested in buying Marathon Oil‘s stake in the Waha Oil Company, reports Reuters. Oil and Gas Minister Dr. Abdulbari Alarusi [Al Arusi] (pictured) told a conference in London that Libya would discuss a potential deal with Marathon, although other firms were also interested. In the first quarter, production from Libya […]