Libya is re-opening its last major oil-export terminal and producing at the highest level in more than two years as the war-torn country benefits from an exemption from the Organization of Petroleum Exporting Countri ...
Libya's National Oil Corporation (NOC) said that pipelines leading from the western fields of Sharara and El Feel had been reopened after a two-year blockade, paving the way for a major boost to production.
An oil tanker docked at the East Libyan port of Es Sider late December to load the first cargo of crude since the terminal reopened following a two-year closure.
Libyan oil-facility guards prevented two of the country’s biggest fields from resuming production, days after the National Oil Corporation (NOC) reached an agreement to restart operations there to boost output.
Libya’s National Oil Corporation (NOC) evacuated non-essential staff from el-Sidra port after reports of military clashes nearby, but has not suspending any loadings.
Iraq will make three new suggestions at a meeting in Vienna of OPEC oil ministers at the end of the November to implement an agreement to restrain crude supply in order to push up prices.
Libya has experienced a remarkable increase in oil production hitting 670,000b/d. The rise in output came accordingly to NOC's work in some previously-shut oilfields.