Production-Cut Exemptions to be Discussed at OPEC Meeting
Libya and Nigeria’s exemptions from the production-cut agreement could be questioned at tomorrow’s meeting between OPEC and some non-OPEC oil producers.
Libya and Nigeria’s exemptions from the production-cut agreement could be questioned at tomorrow’s meeting between OPEC and some non-OPEC oil producers.
Waha Oil Company, a subsidiary of the National Oil Corporation (NOC), has increased production by over 100,000 barrels per day (b/d) since this summer.
Libya’s Sharara oilfield suffered a new “security breach” on Sunday.
Italy seized a smuggling vessel sailing from Libya bearing 100 tons of diesel, indicating that fuel smuggling from Libya continues despite previous efforts by the Italian government to arrest smugglers.
Production from the Libyan oilfield, Sara, has fallen by 50,000 barrels per day (b/d).
Protests have cut production by 40,000 barrels per day (b/d) from oilfields operated by Wintershall in Libya.
Italian police arrested six individuals suspected of smuggling oil into the country from Libya.
Production resumed at Libya’s Sharara oilfield Wednesday.
Libya’s Sharara oilfield will resume production today after successful talks with local tribesmen and guards
he Sharara oilfield stopped production after a militant group seized control of the field.