Tag Archives | oil prices

Libyan Govt Raises Kerosene Price

By John Lee. Libya’s internationally recognised government has said it was sharply increasing the price of kerosene for industrial and commercial use as a first step to reform costly fuel subsidies and tackle smuggling, Reuters reports. The price will rise to 0.85 Libyan dinars ($0.6) per litre, which is also the production cost, the economy […]

Bankruptcy Looms over Libya

A joint statemen issued by Britain, France, Germany, Italy, Spain and the United States has warned that Libya could face bankruptcy if its oil output, and international price of oil, continue to fall: “We remain deeply concerned about the economic impact of the political and security crisis on Libya’s future prosperity. “In light of low […]

World Bank Warns on Libya Finances

A report published on Thursday by the World Bank focuses on the implications of low oil prices for eight developing countries — Egypt, Tunisia, Lebanon, Jordan, Iran, Iraq, Yemen and Libya — and the economies of the GCC (Gulf Cooperation Council). The Plunging Oil Prices report raises serious concerns about Libya’s ability to fund its […]

Libya Increases Oil Price

Bloomberg reports that Libya’s state-run National Oil Corporation (NOC) has raised the official selling price of its benchmark Es Sider crude for June to a premium of 15 cents a barrel over Dated Brent, 5 cents more than this month. It also reported that Indian Oil bought 1 million barrels of Libyan Mellitah grade from […]

Libya Raises September Crude Price

Libya’s state-run National Oil Corporation (NOC) has raised the September selling price of its benchmark Es Sider crude by 60 cents to dated Brent minus 70 cents a barrel. According to Reuters, the NOC has a recent history of surprising traders, but many believed the latest set of prices were relatively fair; “September OSPs look […]

Libya Cuts August Crude Oil Prices

Libya’s state-run National Oil Corporation (NOC) has reduced the official August selling price of its benchmark Es Sider crude to the lowest level in almost three years, reports Bloomberg. The price of the blend was cut by $1.60 a barrel to a discount of $1.30 to North Sea Dated Brent, the lowest since at least […]