Commodities trader Glencore said on Thursday it recognises Libya's Tripoli-based National Oil Corporatino as the sole legal marketer of the country's oil, after securing an export deal earlier this year with the state-run company.
Libya’s oil output dropped below 400,000 barrels a day after the divided country’s internationally recognized government in the east closed a port run by a rival administration in the west, in a push to assert control over more energy assets and exports. Production fell after crude exports halted at the port of Zueitina, Mohamed Elharari, a spokesman for the National Oil Corp.’s management in the western city of Tripoli, said Wednesday by phone. Libya pumped 430,000 barrels a day in October, data compiled by Bloomberg show. Zueitina will be closed until further notice, and tankers seeking to load crude there must now register with a rival NOC management loyal to the internationally recognized government based in eastern Libya, according to a Petroleum Guard spokesman Ali al-Hasy. Vessels registered with the NOC administration in Tripoli, seat of an Islamist-backed government, are “illegitimate” and won’t be permitted to load at Zueitina, he said.
Libya is forming a national unity government after months of difficult talks between the country’s two rival administrations. The north African country’s United Nations envoy Bernardino Leon said candidates for the new government had been decided. The announcement, made in Morocco, is a step towards stitching together the oil-rich but chaotic country that fell apart after the overthrow of former dictator Muammar Gaddafi in 2011. The country has been split between an Islamist-backed government based in Tripoli and an internationally-recognised administration in the east.
Libya’s internationally recognized 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. Oil companies operating in Libya or seeking to do so must register with the National Oil Corp. controlled by the elected government based in the country’s eastern region, Deputy Prime Minister Abdussalam Elbadri said Wednesday at a conference in Valletta, Malta. The NOC will refuse to renew the contracts of any companies that don’t support the elected government, NOC Chairman Nagi Elmagrabi said in an interview in Valletta. The country plans to boost crude output to 2 million barrels a day by 2020, he said.
Power supplier APR Energy has successfully demobilised and removed all of its remaining assets from Libya.
A state oil firm loyal to Libya's official government based in the east of the country has invited foreign oil firms to discuss existing oil purchase contracts at a conference in Dubai next month, it said in a statement. The move is a fresh attempt by Libya's internationally recognised government to control state oil firm NOC, which is at the centre of a conflict between two rival administrations four years after the ousting of Muammar Gaddafi. The eastern government, which lost the capital Tripoli a year ago to a rival administration, has set up a new oil entity, which it calls NOC east, based in the city of Benghazi, but oil buyers still only deal with the established state firm NOC based in Tripoli, which has processed oil sales for decades.
Power supplier APR Energy has made progress in clawing back payments and equipment from terminated projects in the Middle East - which is likely to help its upcoming half-year results.
Power generator APR Energy has pulled out of conflict-torn Yemen over security concerns, leaving behind $24 million of modular power equipment.
The head of Libya’s internationally recognized government resigned, just hours after the United Nations opened peace talks meant to end the civil war in the holder of Africa’s largest oil reserves. Abdullah al-Thinni, who heads the government in eastern Libya, said on a television program Tuesday that he will quit all his official posts. An official resignation will be submitted to parliament on Sunday.
Libya’s new head of the state oil company for the eastern region is considering ending force majeure at the North African nation’s two largest ports and will seek to boost crude output.
Libya has become a major headache for European oil companies as a four-year conflict forced BP Plc to join Total SA in writing off millions of dollars in investments in the North African country. BP on Tuesday said it had taken an impairment of almost $600 million in the second quarter as fighting forced it to suspend an oil exploration campaign. The unexpected charge was the main reason BP’s earnings fell short of analysts’ estimates. “It’s just hard for us to get something done there right now,” Chief executive officer Bob Dudley told reporters in London. BP is aware that other oil companies have written off their Libyan assets, while “some of them haven’t,” he said.
Italy’s Foreign Minister said “prudence and discretion” were essential as the country attempts to bring four kidnapped oil workers home from Libya. The families of four men have been in an anxious wait for news after they were taken near to an industrial complex owned by energy company Eni in the western city of Mellitah. Foreign Minister Paolo Gentiloni said: "Prudence and discretion....are needed to bring home our four countrymen.
The son of a worker kidnapped in Libya has spoken of his shock at the incident. The man's father Fausto Piano was taken earlier this week along with his three colleagues Gino Pollicardo, Salvatore Failla and Filippo Calcagno. The men, who work for Bonatti construction company, were kidnapped near an industrial complex owned by energy company Eni in the western city of Mellitah.
Four Italian workers have been kidnapped in Libya. The incident happened near an industrial complex owned by energy company Eni in the western city of Mellitah. The Italian Foreign Ministry said the employees had been kidnapped on Sunday.
Libya has lifted force majeure at the major Ras Lanuf oil terminal, though restarting exports would take at least two days depending on available crude, a spokesman for the National Oil Corporation said on Tuesday. Restarting Ras Lanuf would be a major boost for Libya's crippled oil industry. The terminal, along with another major eastern oil port Es Sider, has been under force majeure since December last year due to fighting between rival factions,
Islamic State strengthened its hold in central Libya, taking territory near Libya’s largest oil terminal and repelling efforts by militias to halt its advance. The jihadist group had been tightening its grip on Sirte over recent months. It claimed on Tuesday to have finally succeeded in taking Muammar Qaddafi’s hometown, after overrunning a nearby power station. Islamic State already controls the desert town of Naufaliya, about 30 miles from Libya’s largest export terminal of Es Sider and neighboring Ras Lanuf, the third-largest. Controlling Sirte helps cement those positions on the west side of the so-called Sirte Basin, which is home to about 70 percent of the country’s crude reserves.
A manager in working for Libya's Mellitah has been kidnapped, according to reports. The staff member, working for the consortium, which is owned by state oil firm NOC and Italy's ENI, was taken earlier this week. Mellitah operates a complex in Libya which exports oil and gas as well as the Wafa and El Feel oilfields.
Eni has made a second discovery at its exploration prospect off the coast of Libya. The company said it had made a natural gas and condensate discovery about 85 miles away form the coastline.
Warplanes deployed by Libya’s internationally recognized government bombed an oil tanker at a terminal controlled by the nation’s rival Islamist leaders, killing one person, the regional coastguard commander said. The Anwaar Afriqya, carrying fuel from Greece, was attacked while anchored to offload the cargo for a power plant in the coastal region of Sirte, Rida Issa said in a telephone interview.
A Libyan oilfield has been forced to close after a strike by a security guards over salary payments. The state oil firm NOC said the staff members were unhappy about the delay, but said the security forces had been paid although they hadn't paid their guards yet. The El Feel oilfield had only just restarted production after a pipeline had been blocked for months.
Libya’s elected government said it is opening an overseas bank account for crude revenue to bypass rival Islamist authorities in the capital, adding uncertainty to the North African country’s efforts to boost exports. “This measure is meant to ensure liquidity for the government without going through the central bank in Tripoli,” Fathallah Al-Suhaiti, chairman of the elected parliament’s national security and defense committee, said Tuesday by phone from Tobruk in eastern Libya. Libya, holder of Africa’s largest oil reserves, has been split since last year when a coalition of Islamist militias captured Tripoli, forcing the elected government to move to the eastern region. The conflict has damaged or shut oil fields, pipelines and ports, reducing the nation’s crude output to no more than 600,000 barrels a day. Libya pumped almost 1.6 million barrels before the 2011 rebellion that ended Muammar Qaddafi’s 42-year rule.
Oil workers who were freed after being abducted more than a month ago in Libya have returned home. A foreign ministry spokeswoman said the Bangladeshi men had since rejoined their families in their village. The men, Muhammad Helal Uddin, 46, and Muhammad Anowar Hossain, 39, said they were freed after their captors had confirmed they were both Muslims.
An oil worker taken hostage by militants in Libya last month has since been released, however six employees are still unaccounted for. It comes after it was revealed two Bangladeshi citizens had also been freed. The Ghanian’s release is believed to have been at the same time, according to his company, Value Added Oilfield Services (VAOS).
Oil workers have been released after being taken hostage 18 days ago in Libya, according to reports. Two Bangladeshi workers who were kidnapped along with seven others from an oilfield in Libya were freed and taken to a hospital on the south coast of the country.
A second Bangladeshi has been named from among a group of foreign workers taken hostage last week by the Islamic State militant group in an attack on a Libyan oilfield. As many as 10 people are missing after the attack on the Al-Ghani oilfield south of the city of Sirte, Czech and Libyan officials have said.