Crude at five-month high as U.S. gasoline stockpiles tumble
Crude closed at a five-month high after U.S. government data showed the biggest decline in gasoline stockpiles since 2017, offsetting an increase in crude inventories.
Libya
Oil above $70 ‘must be a positive’ as North Sea investors remain cautious
Higher crude prices should encourage North Sea oil companies to dial down the caution and bring forward more new projects, a prominent petro-economist said yesterday.
Oil rises as supplies reduced by OPEC, Libya field halt
Oil rose on renewed optimism that production cuts announced by the OPEC+ coalition will rebalance the market, while a giant Libyan field remained shut and U.S. inventories were estimated to have shrunk.
Libya oil boss sees output jump as BP, Eni may restart soon
BP Plc and Eni SpA could re-start work on a project in Libya in the first quarter, setting the stage for the OPEC member to boost production by “hundreds of thousands of barrels” a day, the head of the country’s state oil company said.
Libya forces quash gunmen after attack on state oil company
Libyan security forces overcame gunmen who attacked the state oil company’s headquarters as militias and government-backed forces clashed in the North African country’s capital.
‘Catastrophic’ damage at oil terminal following armed assault
Libya’s National Oil Corporation (NOC) has reported a “catastrophic” damage at an oil terminal after an armed assault.
Armed clashes disrupt loadings at Libyan oil terminals
Oil loadings at two major terminals in Libya have been halted due to armed clashes in the area.
Libyan oil vying with Saudis and Iraq
Things are looking up for Libya oil traders.
Marathon exits Libya with $450m sale to Total
US firm Marathon Oil has completed the sale of its Libyan subsidiary to Total for $450million.
Libya oil field stoppage disrupts crude exports from key port
Libya’s oil exports from the Mellitah terminal will be “modified” after protests disrupted production at the key El-Feel deposit for the first time in two months, putting the OPEC nation’s crude production at risk of a decline again.
Libya says oil fields reopened after ‘unauthorised’ shutdown
Libya's National Oil Corporation (NOC) has said oil fields in the Jikharra area have reopened for the first time since the beginning of November.
Shell, BP strike deals to buy Libyan oil
Shell and BP agreed to annual deals to buy Libyan crude, underscoring how the North African country’s recovering production and improving security are enticing some of the world’s largest oil companies.
Oil trades above $59 as Libyan output falls after pipeline blast
Oil traded above $59 a barrel as crude production in Libya fell below 1 million barrels a day after a pipeline explosion Tuesday.
The 5 countries that could push oil prices up
Oil prices appear to be stuck in the $50s per barrel, but that doesn't mean there aren't serious supply risks to the market.
OPEC members express concern over Libya’s near million barrel output
Libya’s oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day even as OPEC and its allied suppliers step up efforts to contain a global glut.
Libya’s oil disruptions widen as two more fields halt output
Two more oil fields in Libya are being closed after an armed group took over pipelines to both deposits, further disrupting the OPEC nation’s plan to boost crude production.
Oil holds near $49 a barrel as Libyan crude supply is disrupted
Oil traded near $49 a barrel as Libyan output and exports declined amid security threats and tension among port workers.
Libya’s largest oil field ‘back to normal’ after disruption
Libya’s biggest oil field Sharara is “back to normal” after a disruption caused by protests in the politically fragmented country, the state National Oil Corp. said.
Output caps for Libya, Nigeria ruled out for now
Limiting oil output from Nigeria and Libya won’t be on the agenda when OPEC and other producers meet on Monday, with both African nations saying they’ll need to keep pumping at a higher level before they can join a global effort to stem a supply glut, according to two people familiar with the planned talks.
Libyan output rebound undermines Saudi, Russian cuts
Libya’s rebounding oil output is undermining the supply curbs masterminded by Saudi Arabia and Russia. But any pleas for the OPEC member to exercise restraint will probably be resisted by the technocrat overseeing the North African nation’s turnaround.
Oil hovers around $46 as US, Libya lift output
Oil traded near $46 a barrel after snapping a five-day gain on concern output in the US and Opec member Libya is growing just as demand shows signs of improvement.
Globalscot to help North Sea oil firms make splash abroad
Lawyer and Middle East business expert Hugh Fraser has been inducted into a global networking initiative set up to help Scottish firms break international markets.
Oil down as US rig count rises and Libya lifts output
Oil declined as rigs targeting crude in the U.S. rose for a fifteenth week and output from Libya rebounded.
Oil rises on back of Libya output stoppage
Oil rose after a pipeline halt reduced output in OPEC member Libya, countering concerns that a U.S. surplus shows little sign of diminishing.
Rosneft strikes Libya oil agreement as investors flock to country
Rosneft signed investment and crude-purchasing agreements with Libya’s National Oil Corp. as more international companies return to the North African country to gain access to Africa’s largest reserves.