Tag Archives | NOC

German RWE delays Libya oil start up

The oil arm of Germany’s power giant RWE said on Wednesday it would postpone a start up of its large oil fields in Libya, still awaiting an agreement with local authorities on the structure of the venture. “We are now at the place where we need to build up a joint venture with NOC, all […]

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Libya seeking up to 100,000 T of gasoil via tender

Libya’s National Oil Corporation (NOC) has issued a tender to buy up to 100,000 tonnes of gasoil for delivery in July, traders said on Tuesday. The tender is expected to close on Thursday. Traders said it was unclear whether the full volume would be awarded. Last month, the NOC bought just one cargo of gasoil […]

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Libya NOC issues gasoil tender

Libya’s National Oil Corporation (NOC) has issued a tender to buy up to 100,000 tonnes of gasoil for delivery in July, traders said on Tuesday. The tender is expected to close on Thursday. Traders said it was unclear whether the full volume would be awarded. Last month, the NOC bought just one cargo of gasoil […]

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Libya oil ministry opens eastern office

Libya’s oil ministry has opened an office in the eastern city of Benghazi, the cradle of the Libyan revolt, as part of the government’s efforts to decentralise and improve administration in the North African country. The National Oil Corporation (NOC) said in a statement Oil Minister Abdulrahman Ben Yazza officially opened the office in Benghazi […]

Libya Cuts Es Sider Crude Price for July to 30 Cents Premium

Libya’s state-run National Oil Corp. reduced its official selling price of benchmark Es Sider crude for July by 55 cents to a premium of 30 cents a barrel to Dated Brent, according to a price list obtained by Bloomberg News. Following is a table of prices of Libyan crude grades. The blends are priced in […]

BP Lifts Force Majeure on Libyan Exploration

BP has lifted Force Majeure in respect of its Libyan Exploration and Production Sharing Agreement (EPSA) with the National Oil Corporation (NOC) effective 15th May 2012. Force Majeure has been in place since 21st February 2011. Discussions between NOC and BP have agreed how the impact of Force Majeure will be mitigated in BP’s existing […]

Libya Investigating Unipec, PetroChina Oil Deals Under Gadhafi

Libya’s prosecutor office is probing possible irregularities in crude sales to oil giants China International United Petroleum & Chemical Co., or Unipec, and PetroChina Co. Ltd.  as part of a broader probe into Gadhafi-era oil deals, a file from Libya’s Interpol bureau shows. A file issued last month, attached to a request of arrest against […]

Libyan oil industry makes startling recovery

After Libya’s civil war, experts pessimistically predicted a recovery in the country’s oil industry could stretch on for as long as three years. Work camps had been looted and left bereft of phone and internet links, export terminals were damaged and at one point in the fighting, production fell to 45,000 barrels per day (bpd), less than […]