Post Tagged with: "libya"

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

OPEC Oil Output Hits Lowest Since 2011 on Saudi Cut, Sanctions: Reuters Survey

From Reuters


OPEC oil output hit an eight-year low in July as a further voluntary cut by top exporter Saudi Arabia deepened losses caused by U.S. sanctions on Iran and outages elsewhere in the group, a Reuters survey found.

The …

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

Oil Rises as U.S. Crude Stocks Fall Again, Fed Cuts Interest Rates

From Reuters


Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories and after the Federal Reserve cut U.S. interest rates for the first time in more than a decade.

The front-month Brent crude …

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

ConocoPhillips Profit Misses on Lower Crude Prices, Higher Spending

From Reuters


ConocoPhillips (COP.N) missed Wall Street estimates for quarterly profit on Tuesday as it spent more than expected and took a hit from lower crude prices due to fears of a slowing global economy.

The OPEC and …

Libya’s Biggest Oil Field Restarts, Adding Hurdle to OPEC Cuts

Libya’s Biggest Oil Field Restarts, Adding Hurdle to OPEC Cuts

From Bloomberg

Libya’s biggest oil field resumed production, adding another complication to OPEC’s effort to trim a global supply glut.

Sharara resumed production and is expected to reach 80,000 barrels in one day, according to people with knowledge of the …

March 5, 2019 - 3:56 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: BBC

Libya’s al-Sharara 300,000 BOPD Field Remains Shuttered due to Violence

NOC, Repsol keeps Libya’s al-Sharara field shuttered over violence

Libya Clashes Resume as Warlord Haftar Tries to Seize Oil Field

Libya Clashes Resume as Warlord Haftar Tries to Seize Oil Field

From Bloomberg

Clashes resumed near Libya’s biggest oil field, a day after eastern military commander Khalifa Haftar said his forces had reached the deposit in a push to secure the southwestern region and its energy installations.

Haftar’s self-styled Libyan National …

February 7, 2019 - 4:24 pm Closing Bell Story‎, Crude Oil News, Energy News
Libya’s Biggest Oil Field Halts Just as OPEC Opts to Cut Output

Libya’s Biggest Oil Field Halts Just as OPEC Opts to Cut Output

From Bloomberg

Libya declared a state of force majeure at its largest oil field after an armed group forced a production halt, just days after OPEC exempted the country from global crude output cuts.

The shutdown at the Sharara field …

December 10, 2018 - 11:52 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: BBC

Libya Oil Boss Sees Country Exempted as OPEC+ Group Considers 2019 Cuts

From Bloomberg

Libya’s top oil chief expects OPEC and allied producers to exempt the strife-torn North African country from any future cuts in crude output.

“The OPEC community has understood the difficulties we face –- Libya has withheld more than …

November 20, 2018 - 12:32 pm Closing Bell Story‎, Energy News, OPEC
OPEC Output Pierces Ceiling at 32.5 MMBOPD

OPEC Output Pierces Ceiling at 32.5 MMBOPD

According to the latest S&P Global Platts OPEC survey released July 6, 2017, OPEC’s crude oil output increased by approximately 500,000 BOPD within the last two months, pushing the organization’s total output to 32.49 MMBOPD.

OPEC’s June output was 220,000 …

OPEC Production Up in May with New Oil from Libya and Nigeria

OPEC Production Up in May with New Oil from Libya and Nigeria

Countries exempt from the OPEC production deal are ramping up production

Even as the Organization of Petroleum Exporting Countries looks to rebalance markets through coordinated production cuts within its ranks and with other non-members, production from the group is up.…

Long Bets on Oil Increase as Summer Approaches

Long Bets on Oil Increase as Summer Approaches

Refinery utilization hits 90.8%, the highest since the first week of the year

U.S. refiners are picking up activity as the summer driving months approach, encouraging markets to increase the number of long bets on oil.

Utilization is expected to …

Source: Sweetcrudereport.com

Oil Prices Up Over 1% as Libyan Crude Shipments are Delayed

Oil prices climbed higher as a battle for Libya’s Sidra and Ras Lanuf ports delays crude shipments

Crude oil prices rose over 1% this morning as fighting for one of Libya’s key oil ports delayed shipments out of the country. …

800 MBOPD of Oil Could Return to Markets from Libya and Nigeria

800 MBOPD of Oil Could Return to Markets from Libya and Nigeria

Libya and Nigeria hope to restart exports that could add substantially to the global glut

Both the IEA and OPEC pushed out their forecasts for market balance this week as supply continues to prove resistant to the drop in crude …

Libya Supply Disruption Ends – Oil Shipments Resume from Hariga Port in Libya; Crude Reacts

Libya Supply Disruption Ends – Oil Shipments Resume from Hariga Port in Libya; Crude Reacts

Libya’s national oil company confirms 660 MBO shipment from Hariga port

Oil prices have resumed a familiar behavior: volatility. In the past five days or so, WTI has traded below $46.50 and pushed toward $49 on the 18th and …

May 20, 2016 - 3:15 pm Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
Source; Edmonton Journal

Oil Prices Up Due to Canada’s Fire, Libya’s War, and Venezuela’s Incompetence

Wildfires burning out of control in Fort McMurray

Fort McMurray, the heart of much of Canada’s heavy oil sands production, has been evacuated due to a wildfire burning out of control in and around the city. The evacuations have forced …

Dana Gas Iraq Operations

Forget OPEC: Libya Looking to Increase Production, Regain Market Share

Countries that Need Revenue Want to Produce and Sell their Oil

Before Gaddafi was removed from power as Libya’s chief, the country produced almost 1.6 MMBOPD. Today that number stands at just 436 MBOPD, according to Mustafa Sanallah, chairman of …

May 20, 2015 - 6:35 pm International, Oil and Gas 360 Articles, OPEC
Source: research.archives.gov

Violence in Libya Continues

Oilfields in Libya continue to be a target for rival forces

Militants from Libya’s Islamic State (ISIS) affiliate abducted nine foreigners, including four Filipinos, in an attack on a central oilfield last week and beheaded eight Libyan guards, reports the

March 11, 2015 - 5:45 pm Uncategorized
Dana Gas Iraq Operations

Libya Declares Force Majeure

Libya’s National Oil Company has declared force majeure on eleven oilfields

Libya’s state-run National Oil Corporation (NOC) declared force majeure on eleven of its oilfields Wednesday due to the deteriorating security situation in the country, reports Reuters. The country’s …

March 5, 2015 - 5:17 pm International, Oil and Gas 360 Articles
Production Resumes in Libya’s Largest Oilfield

Production Resumes in Libya’s Largest Oilfield

Libya Getting Back on its Feet, For Now

Libya’s National Oil Corporation (NOC) said today that its Arabian Gulf Oil Co. (AGOCO) unit restarted production at the Sarir field in the east of the country. Statistics released from Libya’s National

February 24, 2015 - 2:06 pm Oil and Gas 360 Articles, OPEC
Dana Gas Iraq Operations

Libya Output Down by 80%

Statistics released from Libya’s National Oil Corporation show January’s production was 80% below output in 2011

Ongoing conflict in Libya is preventing the country from maintaining output, a very serious problem considering the majority of the state’s revenues come from …

February 17, 2015 - 6:54 pm International, Oil and Gas 360 Articles
OPEC Update: Libya in Turmoil, Algeria Calls for Production Cuts

OPEC Update: Libya in Turmoil, Algeria Calls for Production Cuts

Algeria cuts spending to offset falling oil prices

Algeria’s oil minister, Youcef Yousfi, on Sunday called on OPEC to cut production in order to raise oil prices and defend smaller producers in the cartel. The country is struggling to deal …

December 29, 2014 - 4:32 pm Oil and Gas 360 Articles, OPEC
Source: World Review
http://www.worldreview.info/content/libya-faces-crisis-oil-production-hijacked

Conflict in Libya Spreads to Third Oil Port

Fighting between factions in Libya threatens another port in the embattled country

Fighting between Libya’s competing governments has spread to a third oil port, curbing gas exports to Italy and cutting crude production to less than what is necessary to …

December 23, 2014 - 4:08 pm International, Oil and Gas 360 Articles

OPEC Output Hits Two-Year Low – Analysts Encouraged by Potential Energy Independence in the United States

According to a recent survey by Reuters, OPEC’s oil output dipped to a two-year low, falling from 30.32 MMBOPD in August 2013 to 30.07 MMBOPD in September 2013.

The survey comes despite the fact that Saudi Arabia, the world’s largest …

October 3, 2013 - 5:59 pm Oil and Gas 360 Articles, OPEC, Politics & Opinions