OIL AND GAS

July 21, 2018

US Oil To The Rescue As Italy Runs Short On Libya/Iran Challenges

Libya’s oil disruptions would normally wreak havoc in Italy—one of Libya’s top oil consumers—but the United States is serving as a pinch hitter in the wake of civil unrest in the troubled African nation.

Trade"...

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July 19, 2018

Libya’s state oil firm declares force majeure on Al-Zawiya oil refinery exports

Libya’s National Oil Corporation (NOC) said on Tuesday it had declared force majeure on exports from Zawiya oil terminal as production at Sharara oilfield dropped to 125,000 barrels per day (bpd).

Production"...

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July 19, 2018

Report: Libya’s oil money goes to foreign banks as citizens face looming poverty

The Independent reported Tuesday that in Libya, corruption was endemic in the country under Moamar Gaddafi, but now, amid the chaos of military struggle, it overwhelms the whole fabric of the country.

The British"...

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July 18, 2018

Libya’s Oil Production on the Rebound After Eastern Ports Re-Opened

Libya is ramping up oil output at its eastern fields, offsetting thousands of barrels in production lost from the partial shutdown of the country’s biggest deposit after gunmen kidnapped workers there.

The"...

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July 17, 2018

How unstable is Libya's oil production?

After a relatively stable spell, Libya’s oil production has see-sawed again because of a standoff at eastern export terminals and the abduction of two workers at the giant Sharara oilfield.

Military clashes"...

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July 17, 2018

UN envoy says reforms needed to resume Libyan oil production

The U.N. envoy for Libya said Monday he fears the recent agreement to resume oil production in the conflict-torn country will not hold unless two issues are speedily tackled — distribution of wealth and “endemic plundering of resources.”

Ghassan"...

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July 16, 2018

Oil prices ease on potential supply hikes by Russia

Oil prices fell on Monday as concerns about supply disruptions eased and Libyan ports resumed export activities, while traders eyed potential supply increases by Russia and other oil producers.
Brent crude futures were down 48 cents, or 0.6 percent, at $74.85 a barrel at 0302 GMT....

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July 16, 2018

Oil prices post sharp losses this week mainly due to output status from Libya

Oil market has been closely watching the trade dispute between the United States and China, the extent of the potential sanctions on Iran and the supply status of Libya for the week ending July 13.

Especially,"...

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July 15, 2018

Oil prices narrow weekly losses on supply fears

Oil prices rose on Friday amidst rising concerns of limited supplies, however, the NYMEX West Texas Intermediate (WTI) recorded losses for the second consecutive week.

Production disruption in Iraq and Norway"...

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July 15, 2018

Production at Sharara oilfield in south Libya disrupted over abduction of engineers

Production at Libya’s giant Sharara oil field is said to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown armed group, the National Oil Corporation (NOC) said.

The"...

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