Tag Archives | Omar Shakmak

Libya sees return to pre-war oil output in October

Deputy Oil Minister Omar Shakmak said that Libya expects to be back to pre-war oil production in October, which is later than previously forecast due to interruptions and the slow return of oil services firms. Shakmak said current output was 1.56 million bpd, climbing back up after three major oil exporting terminals in the east, […]

Libya's Agoco says may stop output due to protests

Libya's Arabian Gulf Oil Company (Agoco) may halt production of crude if authorities do not put an end by Thursday to protests that have closed off its headquarters for a week, a company spokesman said. Protesters have prevented Agoco employees from entering its Benghazi-based office since last Monday, calling for more transparency over how Libya's […]

Libya's biggest oil refinery faces restart delay

Libya's largest refinery, 220,000 barrels per day (bpd) Ras Lanuf, is unlikely to restart for another month or more until after a meeting between board members and shareholders, an official at the refinery operator Libyan Emirati Refining Co (Lerco) told Reuters. Lerco is a joint-venture between Libya's state oil company National Oil Corporation (NOC) and […]

Libya oil purchases: talks at initial phase but Libya showing good will

Talks on oil and gas purchases from Libya at favourable rates are at an early stage, but Libya is showing good will, Finance Minister Tonio Fenech told The Sunday Times. Mr Fenech was contacted after the Libya Herald reported he held meetings with the Libyan Undersecretary at the Ministry of Oil and Gas, Umar Shakmak, […]

Analysis: Libya's oil contracts to be unsure for months more

Uncertainty about oil and gas companies' contracts with Libya, soon to be scrutinized and potentially revised, will persist until new leaders take power after June elections, delaying the industry's return to normal in the post-Gaddafi era. The transitional government has set up a special committee to investigate allegations of widespread corruption in the oil industry […]