Tag Archives | oil exports

Tankers Seized after Shootout at Sea

By John Lee. Libya’s coastguard has reportedly seized two foreign-flagged tankers for allegedly smuggling oil. Following an hours-long gun battle off the coast, near Zuwara, the coastguard boarded the two tankers. One vessel, the ‘Ruta‘, was flying the Ukrainian flag, while the other, the ‘Stark‘, flew the Congolese flag. (Source: Al Jazeera)

NOC warns Oil Market against Illegal Contracts

By John Lee. The National Oil Corporation (NOC) has reasserted that it is the only body authorised by the United Nations to export crude oil and oil products from Libya. The NOC confirmed that term contracts covering the entire production for 2017 for all Libyan crude grades have already been entered with 16 international oil […]

First Tanker Loads at GAZA Marine Terminal (FSO)

On Saturday 11 February 2017, the first crude oil vessel was loaded at GAZA Floating, Storage, Offloading Marine Terminal (FSO) in Bouri Offshore Field, which was launched to replace Sloug Floating Storage Offloading (FSO) and to be included within the oil operations system of Mellitah Oil and Gas Company. The floating Storage was manufactured by […]

Glencore “Extends Libyan Oil Deal”

By John Lee. Reuters reports that Swiss-based commodities giant Glencore has extended a deal with the National Oil Corporation (NOC) to be the sole marketer of one third of the country’s current crude oil production. In late 2015, Glencore reached an exclusive deal with the National Oil Corporation (NOC) to take all exports of the […]

First Tanker Ships Oil from Es Sider

The first tanker has reportedly moored at the Es Sider (Sidra) terminal since it was attacked two years ago by Libya Dawn forces, and several of its oil storage tanks set on fire. According to Libya Herald, the tanker is the Maltese-registered SeaMusic, managed by the Thenamaris group, which is said to be heading for […]

Restart of El Feel, Sharara Oil Fields ‘Halted’

Bloomberg reports that Libya’s Petroleum Facilities Guards (PFG) have prevented two of the country’s biggest fields — El Feel [El Fil, Elephant] and Sharara — from resuming production. This comes days after the National Oil Corporation (NOC) reached an agreement to restart operation after they were shut more than a year and a half ago. […]

Glencore seeking to Increase Oil Trading with Libya

By John Lee. Reuters reports that Glencore is seeking to increase oil trading with Libya, Iran and Iraq to beat what looks to be a much tougher trading environment compared with last year. Alex Beard, the company’s global head of oil, told the Reuters Commodities Summit: “We’re very happy with our relationship with NOC and we’ve […]

AGOCO Oil Output Increasing

Libya’s Arabian Gulf Oil Company (AGOCO) has increased crude oil production from about 150,000 bpd to 320,000 bpd since Khalifa Haftar’s Libyan National Army (LNA) took control of some of the country’s main oil terminals last month. Chairman Mohamed Shatwan told Reuters that he plans to reach 350,000 bpd by the end of the year, […]