Tag Archives | Blockade

US Welcomes Reopening of Libyan Energy Sector

U.S. Embassy Libya's statement on the apparent Libyan agreement to reopen the energy sector As responsible Libyan parties come together in UN-facilitated peaceful dialogue, the U.S. Embassy is encouraged by an apparent sovereign Libyan agreement to enable the National Oil Corporation (NOC) to resume its vital and apolitical work. In an exchange of letters between […]

Libyan Central Bank warns of Financial Collapse

By Al-Monitor staff. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Libya Business News. Libyan Central Bank warns of financial collapse if oil production not restored The near halt of Libya's oil production and exportation amid the civil war could cause the country's economic collapse, the head […]

Blockade has cost Libya almost $10bn

The National Oil Corporation (NOC) has reported oil, gas and condensates export revenues of USD38.2 million in July 2020, a hugely damaging drop compared to USD2.1 billion in July 2019. This is the lowest one-month revenue figure recorded this year. NOC registered USD24.7 million from sales of crude oil, USD12.8 million from gas and condensate […]

Libya to Resume Oil Production at Facilities without Militia

By Al-Monitor staff. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Libya Business News. Intel: Libya to resume oil production at facilities without militia, Wagner fighters Libya's National Oil Corporation (NOC) lifted its force majeure on certain oil facilities this weekend after eastern Libya's Gen. Khalifa Hifter said […]

Libya's Oil Blockade to Shrink Production Glut

Libya's oil blockade is now entering its seventh month and the war-torn country's oil output is hovering at just 100,000 barrels per day (bpd) instead of the pre-crisis 1.2 million bpd. Without a peaceful solution on the horizon, Rystad Energy is further pushing back its expected restart to the fourth quarter of 2020, a change […]

Video: "Why Russian Mercenaries seized control of Key Oilfield"

From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Libya Business News. Russian mercenary groups have enabled renegade military commander Khalifa Hafter, who is based in eastern Libya, to blockade the country's oil exports, starving the country of much-needed money. Moscow's backing of Haftar, a […]

NOC Deeply Concerned at Potential for Military Escalation

NOC deeply concerned at potential for military escalation, deployment of foreign mercenaries at oil installations Libya's National Oil Corporation (NOC) today said is deeply concerned at reports of the increasing likelihood of an intensification of the military conflict, potentially extending to oil and gas facilities. NOC condemns the deployment of Wagner Group, Syrian and Janjaweed […]

US threatens Sanctions in Libya Oil Row

By Al-Monitor staff. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Libya Business News. US threatens sanctions in bid to restore oil sharing in Libya The US government raised the specter of sanctions on unspecified parties involved in Libya's civil war yesterday after Libya's oil authority accused […]