Libya
News
September 10, 2021
Libya’s oil production is in danger of slumping again, as a political power struggle threatens to end a period of relative stability.
News
April 20, 2021
Libya’s oil production has fallen below 1 million barrels a day for the first time in months as a budgetary dispute hinders the OPEC member’s ability to fix war-damaged infrastructure.
News
March 23, 2021
Covid-19 cases are surging in India and threatening the economy’s recovery from a rare recession, while in Southeast Asia, demand has hit a plateau and is unlikely to reach pre-virus levels until the end of 2021 or later.
News
March 15, 2021
Libya’s back in the oil game after years of false starts and setbacks. Energy facilities shut or damaged during its civil war were reopened last year and the OPEC member has managed to keep its production above 1 million barrels a day since November.
News
February 26, 2021
The situation could worsen as Big Oil makes another round of deep spending cuts, leaving consequences both for the oil market, which needs more supply from the OPEC cartel in the coming years, and the economic stability of a region that’s dependent on petroleum revenue.
News
February 01, 2021
OPEC boosted crude production as planned last month, but the increase was tempered by disruptions at long-troubled member nations.
News
January 25, 2021
Iraq pledged to cut output in January and February after pumping more than its OPEC+ quota last year, and Libyan guards halted some crude exports after a pay dispute. Crude was also buoyed by a renewed climb in global equity markets as investors focused on the prospect of additional stimulus.
News
January 21, 2021
Libya is seeking funding from foreign oil companies to fix its ailing infrastructure after years of war and neglect, the nation’s top energy official said.
News
January 15, 2021
The OPEC member’s output has fallen to around 1 million barrels daily in the wake of Waha Oil Co.’s decision to shut a key pipeline taking crude to Libya's largest oil port, Es Sider.
News
October 23, 2020
“The 5+5 Joint Military Commission talks in Geneva today culminated in a historic achievement where Libyan parties reached a permanent ceasefire agreement,” according to a statement by the UN Support Mission in Libya. “This achievement marks an important turning point towards achieving peace and stability in Libya.”
News
October 16, 2020
The halt in Libya’s civil war led to many fields and ports in the east reopening last month, after an almost total shutdown of energy facilities since January. Before then, Libya was producing 1.2 million barrels a day.
News
October 12, 2020
Libya’s state energy company lifted force majeure on the western deposit of Sharara and instructed its operator to resume production, according to a statement on Sunday. The field will initially pump 40,000 bpd, before reaching its capacity of almost 300,000 bpd next week, a person with knowledge of the situation said.
News
October 02, 2020
Libya’s oil output has risen to 295,000 barrels following a truce in the OPEC nation’s civil war and the lifting of a blockade on energy facilities.
News
September 30, 2020
The potential for extra Libyan supplies is putting pressure on oil prices just as traders fret about the outlook for energy demand with the coronavirus pandemic still raging. Brent crude is down 3.6% this week to around $40.50 a barrel, increasing its loss this year to almost 40%.
News
September 28, 2020
Production in Libya, home to Africa’s largest crude reserves, plummeted to less than 100,000 barrels a day in January from 1.2 million after Khalifa Haftar, a Russian-backed commander who controls the nation’s eastern region, blockaded energy infrastructure.
News
September 23, 2020
The National Oil Corp. is ending force majeure -- a legal status protecting a party that can’t fulfill a contract for reasons beyond its control -- at Zueitina in eastern Libya after a “significant improvement” in security there, it said Tuesday. The NOC allowed exports to resume days earlier from the Hariga and Brega terminals.
News
September 22, 2020
Greece, Italy, Egypt, Israel and two other countries will form a permanent organization to promote co-operation over natural gas in the Eastern Mediterranean. Turkey, which has raised tensions by exploring for the fuel in contested waters, is not as yet included.
News
September 18, 2020
General Khalifa Haftar said on television that he has decided to allow the reopening of Libya’s oil ports “as per conditions and guarantees that ensure a fair distribution of wealth and spare it being plundered or used in terrorism financing.”
News
September 10, 2020
Turkey is in talks over oil and gas exploration in Libya, as President Recep Tayyip Erdogan’s administration seeks business opportunities in the conflict-ridden North African country.
News
August 21, 2020
Haftar, aided by Russian mercenaries, the United Arab Emirates and Egypt, had led a failed offensive to capture the capital, Tripoli, from the internationally recognized government. A Turkish military intervention helped rout his self-styled Libyan National Army earlier this year, and Haftar’s forces fell back to Sirte, the gateway to key oil assets.
News
July 13, 2020
Libya’s National Oil Corp. declared force majeure on exports again, accusing the United Arab Emirates of being behind a blockade as chaos continued to engulf the country’s oil industry.
