Tag Archives | oil production

Libyan Oil Production Falls Below 90k Barrels per Day

Statement from the National Oil Corporation (NOC): The NOC has recently supplied medical equipment to help local authorities across Libya deal with the coronavirus pandemic, click here for more details. The forced and illegal restriction of oil and gas production has resulted in financial losses exceeding 3,957,326,455 USD since January 17, 2020. This means the […]

Libyan Oil Revenues Collapse

The National Oil Corporation (NOC) has reported February 2020 revenues of approximately USD 555 million ($555,533,750.97), a decrease of around $1.21 billion USD (68.6%) on January 2020 revenues. The February figure is also a decrease of around $708 million (56%) compared with February last year. NOC's revenues come from sales of natural gas, crude oil […]

Libya's Oil Blockade Losses exceed $3.5bn

By John Lee. Libya's National Oil Corporation (NOC) has said the financial losses resulting from the ongoing blockade of its oil facilities now exceed $3.5 billion, as oil production falls to just 95,837 barrels per day (bpd). In a statement late on Monday, the company said: "The NOC continues to work hard to serve all […]

Oil Revenue Losses approach $2bn

By John Lee. This official notice summarises the situation across Libya for the oil and gas sector. Please beware of disinformation regarding the current fuel situation published by non-NOC sources. Please treat this report as the only source of accurate and updated information. Libya's National Oil Corporation (NOC) has said the production, transportation and supply […]

19% Drop in Libyan Oil Revenues in January 2020

By John Lee. The National Oil Corporation (NOC) has reported January 2020 revenues of approximately 1.77 billion USD($1,768,879,320.49), a decrease of around 418 million USD (19% ) on December 2019 revenues and an increase ofaround 167million USD (10.4%) compared with January last year. NOC’s revenues come from sales of natural gas, crude oil and assorted […]

Force Majeure cost Eni JV $9.4m Per Day

By John Lee. Mustafa Sanalla, Chairman of National Oil Corporation (NOC), met with an Eni delegation led by Eni’s Chief Upstream Officer, Alessandro Puliti, Tripoli (Libya), on January 29, 2020 – to discuss status of current shared projects and the consequences of the current blockades for Libya’s people and hydrocarbon production facilities. Sanalla thanked Eni […]

US Condemns Blockade on Libya’s Oil Production

Ambassador Kelly Craft Permanent Representative U.S. Mission to the United Nations New York, New York January 30, 2020 AS DELIVERED Thank you Mr. President. Thank you Special Representative Salame for your update on the increasingly alarming situation in Libya. Less than two weeks ago, international leaders gathered in Berlin, where they called for a sustained […]

AGOCO increases Capacity at Nafoura and Hamada

By John Lee. Engineers from the Arabian Gulf Oil Company (AGOCO) have increased production capacity at the Nafoura oilfield by 5925 barrels per day, following the successful tie-in of well Y3 to production facilities at the field on Sunday, December 22, 2019. AGOCO also resumed production from wells Z1 and Z4 at the Hamada oil […]