Tag Archives | oil production

Eni to Cut Libyan Oil Production

By John Lee. The CEO of the Italy’s Eni has reportedly said that the company is planning to reduce oil production in Libya. Outlining the company’s strategy for 2018-2021, Claudio Descalzi (pictured) said production would fall from 320,000 bpd to 200,000 bpd. But he added that while it was not possible to initiate new projects […]

Sharara Oilfield Resumes Production; NOC to Sue

By John Lee. The National Oil Corporation (NOC) confirmed on Monday that production at the Sharara oil field has resumed following 24-hour suspension. The stoppage caused half a million barrels of production to be lost, at an estimated cost of $30 million. Hassan Mohamed al-Hadi, a landowner in the western Zintan area, told Reuters: “I […]

Disruption at El-Fil hits Oil Exports

By John Lee. The National Oil Corporation (NOC) has declared force majeure on the 70,000-bpd el-Feel [El-Fil, Elephant] field from Friday February 23, 2018, following the shutdown of the field and the evacuation of its employees. A statement from the NOC said the actions were taken after members of the Fezzan unit of the Petroleum […]

January Oil Production at a 4.5 Year High

By John Lee. Libya’s oil production in January has been estimated to be at levels not seen since July 2013. According to Devin Geoghegan, of energy analysts Genscape, Libya produced nearly 1.083 million barrels per day of oil (1.133 mmbpd of total liquids) during January 2018. (Source: Genscape)

50,000 bpd As-Sarah Fields Reopen

By John Lee. The municipality of Jikharra has decided to reopen the oil fields in its area that have been shut since the beginning of November 2017. According to a statement by the National Oil Corporation (NOC), the “unauthorized shut-down” of the As-Sarah fields in the NC-96 concession by operator Wintershall has resulted in the […]

2017 Oil Production Target “Very Uncertain” – Sanalla

By John Lee. The head of Libya’s National Oil Corporation (NOC) has said that the increases in Libyan oil production over the summer have “created a media storm.” Asked about Libya’s fourfold rise in production since last year, and whether it has undermined efforts to shrink a worldwide oil glut, Mustafa Sanalla told the Financial […]

Sharara Oil Field closed since Sunday

By John Lee. An armed group — believed to be Brigade 30 — forced the closure of the giant Sharara oilfield late on Sunday. Mustafa Sanalla, National Oil Corporation (NOC) chairman, said on Monday that the closure had already caused a loss of $16 million. Production at Sharara is normally in the range of 230,000-to-280,000 […]

Oil Blockade “a National Tragedy”

By Jobn Lee. The National Oil Corporation (NOC) says more than 360,000 barrels per day of Libyan crude oil production has been shut in by what it describes as a “criminal militia” operating in Western Libya, at a cost to the country of $160 million in lost production. “These gangsters are not only harming the […]