Libya
News
October 07, 2024
Libya’s oil production climbed above 1 MMbpd for the first time in two months, after the resolution of a political standoff in the OPEC nation that had curbed output and exports.
News
October 03, 2024
Libya has resumed oil production, restoring hundreds of thousands of barrels a day to global markets after an embargo was lifted by the country's eastern government. The move follows an easing of a political standoff that had sharply reduced output from the OPEC member.
News
September 02, 2024
The nation was pumping about 1 MMbpd before the halt order, with the vast majority of that coming from the east. Daily production in the past week plunged to about 450,000 bpd.
News
August 28, 2024
Libya’s oil production has more than halved this week — and risks taking close to 1 MMbpd off the global market — as the country’s fields reduce operations amid a stalemate over who controls the central bank.
News
August 27, 2024
Production at the El-Feel field in southwestern Libya has stopped, according to people familiar with the matter, while local operators are indicating they’ll gradually halt pumping nationwide. The move to freeze all production and exports announced Monday by the eastern Libyan authorities came in response to a decision by the internationally recognized government in the west to replace central bank Governor Sadiq Al-Kabir.
News
August 07, 2024
The unnamed minister and the director of his office were accused of behavior “inconsistent with their job duties,” according to a statement. The move fuels uncertainty in an industry beset by unrest, with oil production frequently hostage to struggles between dueling administrations in Tripoli and the east.
News
August 05, 2024
Production at Sharara in southern Libya has stopped completely from nearly 270,0000 bpd on Saturday when employees received orders to trim output, according to the people, who asked not to be identified as they aren’t authorized to speak to the media.
News
March 28, 2024
Libya holds Africa’s largest crude reserves, but over a decade of political strife has taken its toll. Production that reached almost 1.8 MMbpd in 2008 slumped to some 100,000 bpd following the killing of Moammar Al Qaddafi in 2011’s civil war. Volatile ever since, it’s currently at about 1.2 MMbpd.
News
February 26, 2024
Shipments from the Wafa oil field, which produces 40,000 to 45,000 bpd, are back up after being halted on Sunday as guards at the facilities demanded better pay, according to a person familiar with the operations.
News
January 22, 2024
Production at Sharara, which previously pumped about 270,000 bpd, will resume and force majeure, a clause in contracts allowing deliveries to be suspended, will be lifted, the OPEC country’s state-run National Oil Corp. said in a statement.
News
January 03, 2024
A group of people had entered the field in 20 vehicles, demanding jobs, services and a new refinery, according to a letter signed by a board member at the state company.
