Libya
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.
News
July 09, 2020
Crude slid after a key Libyan oil field resumed production, threatening to unleash barrels into a market where demand is already lackluster.
News
July 03, 2020
Libya will export two oil cargoes totaling 1.2 million barrels in July -- a third less than in June -- as forces opposed to the Tripoli-based government continue to block shipments from most of the OPEC member’s ports.
News
July 01, 2020
From OPEC stalwarts down to individual producing companies, oil price and demand projections are dividing into two separate camps. World Oil's editors review some of these key differences, and what they mean for crude production plans.
News
June 30, 2020
Tribes in eastern Libya backed the resumption of oil production from their region, shortly after the state energy company said negotiations between the U.S. and regional governments could lead to a restart of exports from the war-battered OPEC member.
News
June 25, 2020
Libya’s oil industry is crumbling after more than nine years of neglected maintenance amid a civil war that’s killed thousands and destroyed towns across the country.
News
June 08, 2020
Pumping began on Sunday at the El-Feel deposit, which had suspended operations due to the North African country’s civil war. El-Feel is resuming just a day after oil started flowing again from Libya’s largest deposit, Sharara.
News
June 03, 2020
The eastern Mediterranean has become an energy hot spot with big finds for EU member Cyprus, Israel and Egypt in recent years, and Turkey’s push to secure a share of the resources in those waters has exacerbated strains in an already tumultuous region.
News
May 21, 2020
The revival of Libya’s oil industry looks even less certain following recent setbacks suffered by Khalifa Haftar, the commander trying to take over the last swaths of the country outside his control.
News
February 11, 2020
Libyan economic experts will study the distribution of crucial oil revenue as efforts continue to solve the war-ravaged OPEC member’s political crisis, the United Nations said.
