Archive | Oil & Gas

Restoring oil output key to Libya's recovery: IMF

Restoring oil and gas production in Libya is key to rebuilding the country and reviving the economy after an eight-month civil war, the International Monetary Fund said on Monday, while it warned the government's finances remained "precarious." The IMF forecast that Libya's economic activity would recover in 2012 as more oil production comes on stream […]

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Libya oil output climbs to 1.3 mln bpd - NOC statement

 Libyan oil production has climbed to 1.3 million barrels per day, the National Oil Corporation (NOC) said in a statement, as companies resume production following the eight-month war. "The National Oil Corporation announced...that the production of crude oil has reached 1.3 million barrels per day," said a statement on its website. The most recent resumption […]


Libya to Export 12.7 Million Barrels of Crude This Week

National Oil Corp., Libya’s state- run energy company, plans to export 12.7 million barrels of crude from Jan. 26 to Feb. 1, according to an official at the company’s crude and natural-gas marketing department. The company, also known as NOC, shipped 5.54 million barrels from Jan. 19 to Jan. 25, Ahmed El-Mihoub said in an […]

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Libya May Load 330,000 Tons of Crude on Four Tankers This Week

Four tankers have been booked so far to load 330,000 metric tons of crude oil in Libya this week, according to data from Poten & Partners Inc. The ships have been chartered to pick up the equivalent of about 345,000 barrels a day, compared with 660,000 barrels a day booked to load on six vessels […]


Libya boosts oil output but dangers lurk

Two major oil companies in Libya say they expect to restore their pre-war production levels by the end of the month, just in time to help pick up the slack for energy-hungry Europe if Persian Gulf crude supplies are cut off in the confrontation between Iran and the West. Other firms make equally optimistic forecasts […]

The business outlook

When will be the best time for a multi-sector trade promotion mission from Britainto go to Libya? To find the answer to that question a small group from the Libyan British Business Council of which I am a deputy chairman spent last week in Libya, my own first visit since the revolution. My main impressions […]

ENI says Libya oil output back to pre-war levels

Italian group Eni's oil output in Libya is almost back to its pre-conflict levels at 260,000 barrels per day, Chief Executive Paolo Scaroni said on Saturday. "Output has now gone back to its pre-war levels. It was 270,000 bpd (before the war), now it's 260,000 bpd," Scaroni told journalists in Tripoli. Scaroni also said Eni […]

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Conoco Books Tanker to Ship Libyan Oil to U.S., Shipbrokers Say

ConocoPhillips booked an oil tanker to haul Libyan crude to the U.S. as the North African country boosts output following the overthrow of Muammar Qaddafi last year, data from shipbrokers including Poten & Partners show. The Donat, a 1 million-barrel carrier owned by Zadar, Croatia-based Tankerska Plovidba DD, was hired to load 135,000 metric tons […]