Tag Archives | oil production

Libya breaks 2018 Monthly Oil Revenue Record

The National Oil Corporation (NOC) declares that October income from sales of crude oil and derived products, in addition to taxes and royalties received from concession contracts, was 2.87 billion USD – the highest year-to-date monthly total of 2018. This represents an increase of 1.21 billion USD (+73%) from the September figure. 2018 total projected […]

Libyan Oil Production Highest Since 2013

By John Lee. Oil production in Libya has reached its highest level since 2013, according to the Chairman of the National Oil Corporation (NOC). Mustafa Sanalla (pictured) told Bloomberg that output recently hit 1.278 million barrels per day, and can be increased by “hundreds of thousands” of bpd with improved security. (Source: Bloomberg)

Sirte, Hariga Blockade Costing Libya $67m/day

National Oil Corporation (NOC) chairman Mustafa Sanalla has met with the new US Charge d’Affaires to Libya, Mr Joshua Harris. Mr Harris took up the post succeeding Ms Stephanie Williams, who was appointed by the United Nations Secretary-General Antonio Guterres as Deputy Special Representative for Political Affairs in Libya. The two parties discussed recent events […]

AGOCO Oil Output Recovers

By John Lee. Libya’s Arabian Gulf Oil Company (AGOCO) has reportedly recovered production on Thursday, following cuts earlier in the week when unusually hot weather affected power supplies. Bloomberg quotes sources as saying that production dropped to about 145,000 bpd on Tuesday from about 260,000, as high temperatures caused some of its turbines to stop […]

Fire on Oil Pipeline feeding Es Sider

By John Lee. Libya’s National Oil Corporation (NOC) has confirmed that a fire broke out on 21st April 21 along the El-Zkout-Al Sidra oil pipeline, operated by the Waha Oil Company (WOC). The line connects the oil fields to the Sidra oil terminal. Initial investigations indicate that the fire occurred 117km from Zkout and 21km […]

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 […]