Oil exports from the Libyan port of Marsa al Brega have reportedly resumed following the lifting of the force majeure. Deputy oil minister Omar Shakmak told Dow Jones on Monday: "A few tankers have left the port after we lifted the force majeure on 22nd August ... The port is now operating as normal and […]
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The Wall Street Journal reports that Marathon Oil has notified Libya's National Oil Corporation (NOC) that it is considering selling its stake in Waha Oil, Libya's largest foreign-oil partnership. One Libyan oil official said the company's 16.3 percent stake in the field could fetch $2 billion to $3 billion. ConocoPhillips holds another 16.3 percent, Hess Corp. […]
Waha Oil's pipeline in Libya has been closed due to a strike and protests at its Gialo field. Bloomberg quotes Libyan Minister of Oil and Gas, Dr. Abdulbari Alarusi [Al Arusi], as saying that this will result in a cut in the country’s crude output of 120,000 bpd. The field feeds crude into a pipeline […]
Quarterly profit at Hess Corporation has nearly doubled, largely due to the company's resumed operations in Libya. Hess's Waha operations in Libya added 23,000 bpd to output, compared to no production in Libya in the same period last year due to civil unrest.