Libyan Oil Revenues Fall to Zero as Ports Blocked
Libya's vital oil revenues fell to zero in January, the central bank said on Monday, after forces and tribesmen allied to eastern commander Khalifa Haftar blocked major oil ports.Haftar is embroiled in a conflict with the internationally recognized government in Tripoli and has been trying to seize the capital by force since April.Tribesmen and forces loyal to him closed all eastern ports and major fields last month in a power play…
NOC Condemns Calls for Oil Export Terminals to be Shut
Libya's state oil firm NOC on Friday condemned calls to shut oil export terminals in eastern Libya controlled by military commander Khalifa Haftar ahead of a summit in Germany where he will face pressure to halt his campaign to take the capital.Tribal leaders in eastern and southern Libya called on Thursday to shut the terminals in protest at what they called the internationally-recognized government in Tripoli's use…
Oil Edges Above $71
Oil held above $71 a barrel on Tuesday, supported by falling Venezuelan and Iranian exports and fighting in Libya that raised concerns of more supply threats, outweighing expectations of higher U.S. inventories.In Libya, fighting between Khalifa Haftar's Libyan National Army and the internationally-recognised government has raised the prospect of lower supplies from another OPEC member. U.S. sanctions on two others, Iran and Venezuela…
Key Oil Export Terminals Reopen in Libya
Tripoli-based National Oil Corp (NOC) said on Wednesday four export terminals were being reopened after eastern factions handed over the ports, ending a standoff that had shut down most of Libya's oil output.Production and export operations would be restored "within the next few hours", an NOC statement said, although the restart at Es Sider and Ras Lanuf, where workers were evacuated and storage tanks damaged in fighting last month…
Libya's Oil Output Down Sharply in 2018
Libya's national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation (NOC) said in a statement on Monday.The NOC had not previously stated how high the country's production had climbed after partially recovering to more than 1 million bpd a year ago.In the video statement dated July 8 the chairman of Tripoli-based NOC, Mustafa Sanalla, said the Feb.
Oil Tight on Libyan Port Struggles
Libyan oil production could face protracted disruption as factions in the east seek to seize control of crude exports, adding pressure to a tight global market. Eastern factions have tried to take over oil exports in the past but have struggled to find buyers because Western nations insist they will deal only with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli. But this has not stopped eastern forces from seeking control of the ports…
Struggle to Control Libyan Oil Ports Adds to Global Supply Worries
Libyan oil production could face protracted disruption as factions in the east have sought to seize control of crude exports, adding pressure to a tight global market.Eastern factions have tried to take over oil exports in the past yet struggled to find buyers as Western nations insist they will only deal with the internationally recognised National Oil Corporation (NOC) based in the Libyan capital of Tripoli.But this has not stopped eastern forces from seeking control of the ports…
Oil Rises as Outages Balance Trade Dispute, OPEC
Oil prices rose on Tuesday, supported by production losses in Canada, Libya and from the Neutral Zone between Saudi Arabia and Kuwait, but under pressure from higher supply from elsewhere in OPEC and escalating trade conflicts.Brent crude was up 45 cents at $75.18 a barrel by 1335 GMT. U.S. light crude was 65 cents higher at $68.73.Kuwait's energy minister said on Tuesday crude production from jointly operated oilfields in the Neutral Zone shared with Saudi Arabia has halted due to technical issues.
Oil Steady as Outages Balance Trade Dispute, OPEC
Libyan uncertainty supports Brent as * Canada outage lifts prompt U.S. crude prices. Oil prices steadied on Tuesday, supported by Canadian production losses and uncertainty over Libyan exports, but under pressure from climbing OPEC supply and escalating trade conflicts between the United States and other major economies. Brent crude was up 10 cents at $74.83 a barrel by 1045 GMT. U.S. light crude was down 10 cents at $67.98.
Libya Oil Output Slashed by Port Attacks
Libya has lost some 400,000 barrels per day (bpd) of oil production in recent days because of militant attacks at the Ras Lanuf and Es Sider ports, the head of the National Oil Corporation, Mustafa Sanalla, said on Tuesday.Sanalla said there were still militants present in the area of the terminals, which were closed on Thursday following an early morning attack by opponents of eastern-based Libyan commander Khalifa Haftar."We look to fight the fire first of all…
Car Bomber Dies in Failed Es Sider Port Attack
A car bomber blew himself up overnight in a failed attack near a security checkpoint outside the Libyan oil port of Es Sider, a security source and a witness said on Tuesday. Security officials did not say who they thought was behind the attempted attack, which took place a few kilometres from the oil port and caused no material damage. Images shared with Reuters showed a blue vehicle near a sand barrier with the front doors blown open, and body parts apparently belonging to the bomber lying on the ground nearby.
Libyan NOC Official Warns of Force Majeure at Oil Ports as Rivals Mobilize
A senior official at Libya's National Oil Corporation (NOC) warned on Monday of a possible declaration of force majeure at the Es Sider and Ras Lanuf oil terminals, as air strikes continued and rival forces mobilized fighters in the area. NOC board member Jadalla Alaokali said force majeure, a legal waiver for contractual obligations, would "likely" be declared if violence continued, though he gave no timeframe. Libya's eastern-based Libyan National Army (LNA) lost control of Es Sider and Ras Lanuf to a rival faction…
Libya: Air Strikes Aimed to Regain Oil Ports
East Libyan forces carried out air strikes around major oil ports on Saturday as they sought to regain control of the area from a rival faction, a military spokesman said. The eastern-based Libyan National Army (LNA) and allied forces retreated on Friday from Es Sider and Ras Lanuf, two of Libya's largest export terminals, as a faction known as the Benghazi Defence Brigades (BDB) attacked. The prospect of a renewed escalation…
Armed faction enters major Libyan oil port
An armed faction entered a major Libyan oil terminal and a nearby airport on Friday, after attacking forces that have controlled the terminals since September, officials and residents said. The terminals at Es Sider and Ras Lanuf are two of Libya's largest, with potential combined production capacity of about 600,000 barrels per day (bpd). The new uncertainty over their status could be a blow to Libya's hopes of further reviving its oil production. It was unclear who controlled the ports late on Friday.
Reopened Libyan Ports Hope Foreign Staff Will Return
Ports still operating well below capacity; infrastructure damaged by conflict, neglect. Guards and officials at major ports in Libya's eastern Oil Crescent say they are hoping foreign workers will soon return as they struggle to build on output gains with meagre resources. The National Oil Corporation (NOC) reopened three ports in the curve of coastline south of Benghazi in September, after the Libyan National Army (LNA) led by Khalifa Haftar seized them from a rival faction.
Tanker Docks at Libya's Es Sider Port to Load First Crude Cargo in Two Years
An oil tanker docked at the east Libyan port of Es Sider on Monday to load the first cargo of crude since the terminal reopened following a two-year closure, port officials said. Es Sider, Libya's biggest export terminal, had been shut due to a blockade by a military faction since 2014. It reopened in mid September, but repairs were needed before tankers could load at the port, and its capacity remains far below its pre-conflict level of 350,000 barrels per day (bpd).
Newly Pumped Crude Leaves Reopened Libyan Port of Ras Lanuf
A tanker left the Libyan port of Ras Lanuf on Monday carrying the first freshly produced crude oil to be exported since the terminal reopened in September, a port official said. The tanker shipped 600,000 barrels and a second tanker was due to dock at Ras Lanuf shortly, the official said. Ras Lanuf is one of four ports that forces loyal to eastern commander Khalifa Haftar seized in September. Three had been blockaded by a rival faction.
Libya's Zueitina Terminal Loads First Crude Export Cargo Since 2015
A tanker on Thursday loaded the first crude export cargo at Libya's Zueitina oil terminal since late last year, a port official said. Zueitina is one of three previously blockaded ports in Libya's oil crescent region that reopened last month after forces loyal to eastern commander Khalifa Haftar took control of the terminals. The port official said the Ionic Anassa was loading 800,000 barrels of oil for export to China.
East Libyan Oil Firm AGOCO Says Production Rises
Libya's Arabian Gulf Oil Company (AGOCO) said on Monday that its production had risen to 320,000 barrels per day (bpd), from 290,000 bpd late last week. The increase had come after production at Sarir field rose to around 200,000 bpd, and production at Nafoura had reached 29,000 bpd, spokesman Omran al-Zwai said. He added that AGOCO could reach its year-end target of 350,000 bpd if the Bayda field came back on line. AGOCO…
Libya Exports First Oil Cargo From Ras Lanuf Since 2014
An oil tanker left the Libyan port of Ras Lanuf for Italy early on Wednesday with the first crude export cargo from the terminal since at least late 2014, boosting hopes of reviving Libya's battered oil output. The port manager of Ras Lanuf said a second tanker was preparing to load at the terminal, one of four seized on Sept. 11-12 by eastern Libyan forces loyal to military leader Khalifa Haftar. Libya's National Oil Corporation (NOC) has welcomed a promise by Haftar's forces to allow the NOC to control the ports.