Tag Archive | "National Oil Corporation (NOC)"

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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New Gas Discovery in Sabratha Basin

New Gas Discovery in Sabratha Basin

The National Oil Corporation (NOC) and ENI North Africa Libya (Operator), being partners in an Exploration and Sharing Agreement in contract area D (NC41) signed in June 2008, have announced a new gas discovery in Contract Area D (NC41) in Sabratha Basin, Offshore Libya. The discovery exploration (New Field Wildcat) well B1-16/04 is located approximately […]

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NOC Rejects UN Smuggling Claims

NOC Rejects UN Smuggling Claims

A spokesman for Libya’s National Oil Corporation (NOC) has rejected a report by United Nations sanctions monitors that said Libyan authorities were unable to stop the illicit trade in oil or the flow of weapons in and out of the country. Reuters quotes Mohammed El-Harari as saying that all oil port and export operations were […]

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Wintershall Resumes Oil Prod’n in Libya

Wintershall Resumes Oil Prod’n in Libya

The onshore oil production in Libya is still subject to temporary fluctuations caused by external influences on the export infrastructure. Currently it is not possible to load at the export terminal of Ras Lanuf. On Monday, 15 December Libya’s National Oil Corporation (NOC) has declared force majeure for Ras Lanuf due to newly erupted militia […]

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