Tag Archives | OPEC

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 […]

Libya Cannot Participate in OPEC Cuts, warns Sanalla

Libya is in such a dangerous economic situation that there is no way it can participate in OPEC production cuts for the foreseeable future, NOC chairman Mustafa Sanalla told delegates at the 8th Arab-Austrian Economic Forum in Vienna. Sanalla said Libya’s oil production had more than doubled since the lifting of force majeure at Oil […]

Kidnapped OPEC Rep Released

Libya’s OPEC representative, Samir Salem Kamal, who was reported to have been kidnapped two weeks ago, has now been freed. Kamal, who is also head of the Planning Department at the National Oil Corporation (NOC), was said to be in good health considering the situation, but shaken up by his ordeal. BBC News reports that the […]

Senior Oil Exec “Abducted” from Tripoli

Libya’s OPEC representative, Samir Salem Kamal, is reported to have been kidnapped. Family members told the BBC that he disappeared after he left his place of work in central Tripoli on Thursday. Libya Herald reports that Kamal, who is also head of the Planning Department at the National Oil Corporation (NOC), was abducted by masked gunmen. […]

OPEC Picks a Side in Libyan Conflict

Before the annual summit of the Organisation of Petroleum Exporting Countries (OPEC) in Vienna last week, it was not clear which of the two rival Libyan governments would be invited to attend the gathering. According to a report from Middle East Eye, both the government of Prime Minister Abdulla al-Thinni in Tobruk and another, led by a […]

Oil Exports fall by Third in 2013

Petroleum exports from Libya have fallen by one-third in 2013 compared to 2014, according to data produced by the Organization of Petroleum Exporting Countries (OPEC). Exports brought in revenues of $40.163 billion in 2013, down from $60.188 billion the year before. The figure is also lower than the revenues in 2010, before the revolution that […]

Some Positive Signs in the West

As our newsletter goes to press this morning, we are getting reports that the pumping of oil has resumed from the El Sharara field in the west of the country, after the local militia agreed to re-open the valves on the pipeline linking it to the export terminal. Normal production is expected at Sharara by […]

OPEC Output Falls on Libya, Iraq Turmoil

By John Lee. OPEC crude output hit a four-month low in July as unrest and conflict in Libya and Iraq disrupted supplies, a Reuters survey found on Wednesday. Supply from the organization averaged 30.25 million bpd, down from 30.38 million bpd in June, and the lowest since March 2013 when the group pumped 30.18 million […]