Libya’s Abu Attifel Field Restarted Operations
Libya's Abu Attifel oil field has resumed operations after pausing for two weeks.
Libya's Abu Attifel oil field has resumed operations after pausing for two weeks.
Libya has declared a force majeure on significant ammounts of its supply, pushing oil prices to highs not seen since 2014.
Oil prices rose on June 27 after US officials ramped up pressure on its allies to end imports of Iranian crude by November.
The Libyan Government of National Accord will provide each household with an extra $500 in subsidies cards starting from July 2018.
Libya’s National Oil Company stated that clashes at oil facilities on the country’s northeast coast have caused “catastrophic losses” after two storage tanks were destroyed.
Armed clashes have halted oil loadings at Libya’s Es Sider and Ras Lanuf oil ports, and at least one storage tank at Ras Lanuf was set alight.
Oil output from Libya’s Arabian Gulf Oil Company (AGOCO) has returned to its normal level of 250,000 barrels per day (b/d) after electricity supply problems.
Libya’s offshore Bahr al-Salam gas field has resumed production at 380 million cubic feet per day after completing upgrades and maintenance.
Libyan authorities have not raised objections to Total closing a $450 million deal with US-based Marathon Oil to take over its 16% share of the Waha concessions.
A Libyan crude oil pipeline was set on fire on April 21 causing losses of between 70,000 barrels per day (b/d) and 100,000 b/d.