Tag Archives | oil exports

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, […]

Int’l Community Reaffirms Support for NOC, CBL, LIA

Joint Communique on Libya by Algeria, Canada, Chad, China, Egypt, France, Germany, Jordan, Italy, Malta, Morocco, Niger, Qatar, Russia, Saudi Arabia, Spain, Sudan, Tunisia, Turkey, the United Arab Emirates, the United Kingdom, the United States, the European Union, United Nations, the League of Arab States, and the African Union. We welcome the participation of Prime […]

Video: Oil Exports Resume after Haftar Takeover

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. Oil exports in Libya have resumed from the port of Ras Lanouf for the first time in three years. The shipment follows the recent takeover of vital oil terminals by the forces of renegade […]