Libya's National Oil Corp. has formed a special committee to accelerate talks with protesters that may lead to reopening of El Sharara and El Feel oilfields.
Libya’s National Oil Corp. (NOC) in Tripoli said it was to resume production from two oil fields, including the biggest Sharara, after more than a year.
Anglo–Swiss multinational commodity trading and mining company headquartered in Baar, Switzerland, Glencore has secured a deal to buy roughly the half of the oil Libya is currently exporting.
Libya’s Petroleum Facilities Guard halted crude shipments from Zueitina port indefinitely amid an escalating conflict between the divided country’s rival governments, putting the OPEC member’s oil exports at risk.
Vitol, the world's largest oil trader, has predicted that the price of crude will at the most waver around the $60 a barrel level next year, in part because of Libyan production,
Libya's oil production has dropped to 300,000 b/d, less than a quarter of what it produced before the 2011 fall of Muammar Gaddafi, mostly because of insecurity and closed pipelines.
Militants from the so-called Islamic State attacked forces guarding one of Libya’s main oil ports last Thursday with a gun assault and an attempted car bomb.
Libya's internationally recognised government plans to boost oil production five-fold and will punish companies working with a rival cabinet striving to control the divided North African nation's crude deposits.