Libya has entered a “rare period of political stability” but it faces two major challenges, according to a recent Verisk Maplecroft report.
National Oil Corp. (NOC)
Libya’s National Oil Corp. (NOC) held a meeting with the new government on March 31 to discuss the importance of funding the company.
Libya’s National Oil Corp. (NOC) has signalled a return of faith in its sometimes fractious relationship with the Central Bank of Libya (CBL), following the appointment of a new government.
Libya’s National Oil Corp. (NOC) has celebrated an arbitration win against the Libyan Emirates Oil Refining Co. (Lerco), in a case on the Ras Lanuf refinery.
Waha Oil has restarted the Faregh gas field, a year after it was shut down following the January 2020 oil terminal closure.
Libya’s National Oil Corp. (NOC) is in the process of opening an office in London, which will play a key role in the North African’s state production increases.
Waha Oil Co. has cut production in order to carry out maintenance on the 32-inch pipeline connecting fields to the Es Sider terminal.
Norway’s Yara has agreed to sell its entire stake in the Libyan Norwegian Fertiliser Co. (LIFECO) to the Libyan Investment Authority (LIA) and the National Oil Corp. (NOC).
Sirte Oil Co. (SOC) has doubled production to 100,000 barrels per day, following work to increase well productivity.
National Oil Corp. (NOC) and KPMG Tunisia have reached a deal on new financial and administration systems.
The National Oil Corp. (NOC) and Central Bank of Libya (CBL) have fallen out over allegedly inaccurate data, while the oil company has also fended off an armed attack on its headquarters.
Total has held talks with the National Oil Corp. (NOC) on increasing production and expanding in Libya, against a background where security appears to be improving.
Libya is producing more than 1 million barrels per day, the National Oil Corp. (NOC) has announced, in a remarkable recovery.
Libya’s revenues in October roughly doubled from September, following the lifting of force majeure at two ports.
Libya has launched Sarir Oil Operations as a joint operating company to operate Contract Areas 91 and 107, previously held by Wintershall.
The National Oil Corp. (NOC) has lifted force majeure from the El Feel field, following high-level agreements on a ceasefire in Libya.
The National Oil Corp. (NOC) has lifted force majeure from the Sharara oilfield, following an agreement with the Petroleum Facilities Guard (PFG).
The National Oil Corp. (NOC) has lifted force majeure at the port of Zueitina and the associated oilfields, operated by Zueitina Oil Co. (ZOC).
Libya’s National Oil Corp. (NOC) has pitched for new investment in the country’s oil and gas sector, even while reporting new security breaches at the Sharara oilfield.
Libya’s National Oil Corp. (NOC) has accused the Petroleum Facilities Guard (PFG) of spreading coronavirus at the Sharara field, south of Tripoli.
Sirte Oil Co. and Waha Oil have shut their offices for 10 days, in an attempt to combat COVID-19.
The US has called for “all responsible parties” to allow the National Oil Corp. to go about its business.
Libya’s National Oil Corp. (NOC) has named the United Arab Emirates as being behind the order to stop production in the North African country.
Libya’s National Oil Corp. (NOC) has lifted force majeure on oil exports from the North African state, but has warned production will be low.
An attempt to lift force majeure at the Es Sider port, allowing oil exports to resume, has failed with local armed forces refusing to allow this to go ahead.