Tag Archives | NOC

Libya’s Agoco hopes to pump 400,000 bpd by early 2012

Libya’s Arabian Gulf Oil Company (Agoco) is producing 266,000 barrels per day (bpd) from five fields and hopes to reach 400,000 bpd by early next year, a spokesman said on Wednesday.The Benghazi-based company recently began pumping crude at the Hamada and Beda fields after their restarts were delayed due to some problems. Agoco’s Abdeljalil Mayuf […]

Libya seeks UK firms to develop oil sector and construction industry

Libya began touting itself as the next Dubai to UK investors, as the country’s government said it would reward its “friends” when it begins selling off lucrative oil contracts. Representatives of the country’s National Transitional Council called City executives to a central London hotel to drum up British interest in the “massive opportunities” on offer […]

Libya’s Waha Oil strike over as new chairman named

A strike at Libya oil producer Waha Oil, which pumped around around a quarter of pre-war output, has ended after workers’ demands for a new chairman were met, a workforce representative said on Monday. The oil and finance ministry had overturned an initial agreement to remove chairman Bashir Alashab, who workers accused of cooperating with […]

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Libyan Oil Output to Reach Pre-War Levels By End of Next Year

Libya’s oil production will not return to pre-civil war levels until the end of next year, while 10 percent of the nation’s energy infrastructure remains badly damaged. Speaking at an economic forum in Doha, Qatar, Nuri Berouin, the chief of Libya’s National Oil Corp. said crude oil output should reach pre-war levels of 1.7 million […]

Exclusive: Libya vets big fuel import deals in Istanbul

Top oil majors and trading houses met Libyan oil officials in Istanbul this week for their first chance to win multi billion dollar deals to supply fuel needed to keep the new government on its feet. Libya plans to purchase nearly three million tons of gasoline alone, worth close to $3 billion at current prices. […]

Huge Obstacles Impeding Libya’s Stability

A new study has pointed to lack of political stability and security as Libya’s main hurdles on the road to post-conflict reconstruction and economic recovery. Though officially declared as “liberated”, Libya is considered an “extreme risk” country. Prior to the uprisings, Libya’s hydrocarbon industry accounted for over 95% of export earnings and between 85% and 90% […]