Tag Archives | Protests

Sharara Oilfield Shut Again

By John Lee. Libya's largest oilfield has reportedly been closed since Saturday because of a pipeline blockade. According to Reuters, the National Oil Corporation (NOC) declared force majeure on loadings of Sharara crude from the Zawiya oil terminal. Sharara is run as a joint venture between the NOC, Repsol, Total, OMV and Statoil. In recent […]

Protesters Disrupt Production at Sharara

By John Lee. Bloomberg reports that oil production at the Sharara oil field (pictured) in southwest Libya has been suspended. Sources say protesters shut down the oil pipeline from Sharara to the port and Zawya refinery, but it is unclear what the demonstrators were demanding. Sharara normally produces more than 200,000 barrels of oil per […]

Video: Mass Rally in Tripoli in support of Unity Govt

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Libya Business News. Hundreds gathered in Tripoli Friday evening to support Libya's UN-backed unity government and to call on the unrecognized authorities in the capital to cede power to prime minister-designate Fayez al-Sarraj, who arrived in Tripoli on […]

Nafoura Oilfield to Resume Production

Libya's Nafoura oilfield is to resume production on Monday, reports Reuters. A spokesman for the Arabian Gulf Oil Company (AGOCO) said that protesters demanding jobs had ended their protest. The field in volatile eastern Libya used to produce up to 65,000 bpd of oil until local protesters forced a shutdown over a month ago. (Source: […]

Brega Oil Port Closed by Protesters

The Brega oil port in eastern Libya has been shut by protesters, an oil official said on Saturday. Though small, with around 90,000 bpd of exports, the move is significant because the Brega port remained in operation when other terminals were closed last year. A spokesman for the state-run National Oil Corporation (NOC) said the […]

Libya Reopens Terminals, Increases Oil Exports

Libya's state-run National Oil Corporation (NOC) lifted the force majeure on the oil ports of Es Sider and Ras Lanuf on Sunday, after rebels handed the ports over last week. A spokesperson for the NOC said: “We, only today, have started talking to our previous customers and partners so we can fix our shipment programme […]

Protests Cost Libya $30bn in Oil Revenue

Reuters reports that Libya has lost $30 billion due to the ongoing protests at oilfields and export terminals, which have brought the country's oil output from 1.4 million bpd in July to less than 200,000 bpd currently. The figure comes from Musbah Alkari, director of the central bank's reserves department, who also told the news […]

Western Oil Fields and Pipelines Restarted

The Wall Street Journal reports that Libya's oil production is set to double with the reopening of western oil fields and pipelines Monday. Exports from two eastern ports resumed when protesters ended their occupation of the facilities after coming to an agreement with the government. A spokesman for the National Oil Corporation (NOC) said on […]