Tag Archive | "National Oil Corporation (NOC)"

Thinni Warns Against ”Illegitimate” NOC

Thinni Warns Against ”Illegitimate” NOC

Libya’s internationally recognised government has warned companies against dealing with the Tripoli-based National Oil Corporation (NOC). Speaking to a press conference of Beida, the head of the House of Representatives (HoR), Abdullah al-Thinni (pictured), said his government is taking further steps to export crude oil from the regions under its control through its locally recognized […]

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Two Biggest Oil Ports to Open Soon

Two Biggest Oil Ports to Open Soon

The head of the National Oil Corporation (NOC) in Tobruk, Elmabruk Bosaif, has told Reuters that Libya’s two biggest oil ports, Ras Lanuf and Es Sider, will be able to open once security checks are made. The ports, which can handle a combined 600,000 bpd, are under the control of forces loyal to the internationally […]

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Oil Exports Hit 622,000 bpd

Oil Exports Hit 622,000 bpd

Libya Herald, citing figures from the National Oil Corporation (NOC), reports that crude oil exports are up to 622,000 barrels per day (bpd). The main producers are listed as: AGOCO producing 290,000 bpd; Eni producing 250,000 barrels of oil and gas equivalent from El Fil [El Feel, Elephant] and Wafa in the south west; Sirte […]

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Rival NOC ‘Likely to Fail’

Rival NOC ‘Likely to Fail’

Reuters reports that Libya’s internationally recognised government in Tobruk is unlikely to succeed in its plans to have all oil exports paid for through a new state oil firm it is setting up in the east. Currently, both of the rival governments fund their respective armies with export revenues collected by the National Oil Corporation […]

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NOC Asserts its Independence of Rival Factions

NOC Asserts its Independence of Rival Factions

In response to the current events, the Board of Directors of the National Oil Corporation (NOC) in Tripoli has issued the following statement: “The NOC Board of directors confirms that the NOC’s position is neutral and receives No directives from either the Tripoli or Baida based Governments and operates in complete independence from both sets […]

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NOC Declares Force Majeure

NOC Declares Force Majeure

Libya’s National Oil Corporation (NOC) has declared force majeure on 11 oilfields after a series of attacks by the Islamic State (IS, ISIS, ISIL) on facilities in the central region, guaranteeing legal protections from claims against any future disruptions. The NOC said it could no longer ensure production at the facilities due to the deteriorating security […]

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Video: Attacks Halt NOC Activity

Video: Attacks Halt NOC Activity

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. Libya’s national oil company has declared itself unoperational after a series of attacks. It is a legal move that protects the company from liability in case it fails to fulfill its contracts. Al Jazeera’s […]

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Oil Production back above 400,000 bpd

Oil Production back above 400,000 bpd

Libya’s National Oil Corporation (NOC) has announced that oil production is now above 400,000 barrels per day. Although well below the 1.6 million bpd levels of before the 2011 revolution, this figure is up on the recent levels when fighting between rival armed groups closed two key ports, according to a Reuters report. In January, […]

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