Tag Archives | Repsol

Repsol Restarts Production

Spanish oil major Repsol said on Tuesday it had restarted production at its 340,000 barrels-per-day El Sharara oil field (pictured). The complex was shut last month following clashes with protestors, and while production has restarted, it's still not back to full capacity. According to the report from Reuters, analysts estimate the shutdown cost Repsol 30 […]

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Oil Production Restarts at Sharara

Oil has reportedly started flowing again from the Sharara oil field, one of Libya’s largest. Spanish multinational Repsol is “producing 60,000 barrels a day,” said Mohammad Al Harari, a spokesman for the National Oil Corporation (NOC) said on Sunday. The field normally produces 300,000 bpd, and production should ramp up in the coming days. (Source: Dow […]

Protesters Agree to Reopen Oilfield

Following a deal with the government, Tuareg protesters at the El Sharara oil field agreed on Thursday to suspend their strike. The government has agreed to let the Tuareg institute a locally elected council and to issue them national ID cards, among other concessions. The National Oil Corporation (NOC) is reportedly preparing to resume production […]

Libyan Unrest Hits Repsol Profits

Spanish oil major Repsol has said that net income during the first nine months of 2013 was 1.41 billion euros compared with 1.706 billion euros in the same period of 2012. The decline is the result of production interruptions in Libya and narrower refining margins due to the weakness of the European market. The Upstream […]

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OMV's 1st Oil Find in Libya since Revolution

Austria's OMV and its partners have discovered oil in Libya. The successful exploration has been made in the Murzuq Basin, 800 km south of the capital Tripoli. Jaap Huijskes (pictured), OMV Executive Board Member responsible for Exploration and Production: "This discovery in Libya confirms the potential of the country for OMV’s upstream activities." Repsol, the […]

Tankers Hired to Ship Libyan Crude

Oil companies have reportedly booked eight tankers to load Libyan crude, which is being seen as a positive signal for Libyan oil exports following the disruption of recent months. Bloomberg compiled the information from four shipbrokers including Poten & Partners in New York and Galbraith’s Ltd. in London, and reports that BP, Total and Repsol […]

Libya "can Produce 2 Million Barrels a Day"

Repsol’s Regional Executive Director for Europe, Asia and Africa, has said that Libya can produce two million barrels of oil per day in quite a short period of time, but that it had to invest. Ferdinando Rigardo added that the biggest challenge to gas development in Libya is building exporting facilities, especially as these costs […]

Oil Disruption Spreads Westward

Bloomberg reports that Libyan oil production fell to one-eighth of its capacity as protests over pay and allegations of corruption spread to the Repsol-operated Sharara and Eni-operated El Feel [El Fil, Elephant] fields in western Libya, disrupting supply to the Zawiya and Mellitah terminals respectively. The protests were previously entrenched in the central and eastern […]