Sunday, February 5, 2023
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Market Europe

Libyan oil company resumes exports after months of blockade – ET

July 11, 2020
in Europe
Libyan oil company resumes exports after months of blockade – ET
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Shell posts $18billion loss in second quarter – News for the Oil and Gas

Path to net zero: European oil majors outpace US companies on climate goals

Libyan oil company resumes exports after months of blockadeCairo: Libya‘s national oil company announced Friday it has resumed crude exports, ending a months-long blockade that eastern tribes had called to protest revenue distribution in the war-torn country. The National Oil Corporation said the resumption of exports from Libya started on a small scale, and would reach just 650,000 barrels a day by 2022 because extensive repairs, costing “billions of dinars,” are needed in the facilities following months of neglect.

The corporation also lifted force majeure on all oil exports, promising to fulfill its existing contracts for the first time since January.

Powerful tribes loyal to east-based military commander Khalifa Hifter had reduced the country’s production of 1.2 million barrels a day to a trickle in January as a challenge to their adversaries in western Libya, the U.N.-supported government in the capital, Tripoli. Last week, the tribes offered to end the blockade and negotiate a restart in production as part of a political settlement.

Libya on Friday shipped 730,000 barrels of crude oil from Es Sider, the country’s largest port, to Italy, according to Ali el-Farsi, the spokesman for the Waha Oil Corporation. The tanker was flagged under Liberia.

“We are finally getting back to production and staying away from political conflict,” el-Farsi said. “We are not supporting any one government, we are just oil workers who want to get our salaries again.” Oil, the lifeline of the Libyan economy, has long been a key factor in the civil war, as the two rival governments and militias jostle for control over the coveted revenue.

While Hifter’s forces control Libya’s oil crescent in the east and south, the Tripoli administration controls the Central Bank, which holds the country’s oil revenue.

The shutdown, which deprived the corporation of over $6.5 billion, was meant to put pressure on the Tripoli administration to provide more resources to the east and crack down on alleged corruption.

The National Oil Corporation said recent high-level negotiations over resource distribution with the Tripoli government – supervised by the U.N. and the U.S. and involving other “regional countries” – had helped restart exports.

“We are very glad to finally be able to take this important step to national recovery,” said Chairman Mustafa Sanalla. He thanked “all parties” for a successful round of discussions, without elaborating.

The US Embassy in Libya welcomed the resumption, saying the National Oil Corporation would work with the UN to ensure “that revenues are not misappropriated but rather preserved for the Libyan people.”

Libya, which holds Africa’s largest proven reserves of oil, is exempt from the historic cutback agreement by major oil producers to boost oil prices during the coronavirus pandemic.

When Russian mercenaries allied with Hifter’s forces occupied a vast oil field last month, the National Oil Corporation accused Russia of trying to prolong Libya’s shortfall, which has helped to offset reduced demand due to the pandemic.





Read More: Libyan oil company resumes exports after months of blockade – ET

Tags: ali el-farsiblockadeCompanycrude exportsExportsForce MajeureKhalifa HifterLibyaLibyanmonthsmustafa sanallaNational Oil Corporationoiloil fieldResumesthe waha oil corporation

Related Posts

Oil rises further from 3-week lows, but headwinds loom amid pandemic
Europe

Oil rises further from 3-week lows, but headwinds loom amid pandemic

by Oil Market
July 31, 2020
0

TOKYO (Reuters) - Oil prices recovered further ground on Friday, after touching three-week lows in the previous session, responding...

Read more
Shell posts $18billion loss in second quarter – News for the Oil and Gas
Europe

Shell posts $18billion loss in second quarter – News for the Oil and Gas

by Oil Market
July 30, 2020
0

Shell has posted losses of $18.1billion (£14bn) for the second quarter of 2020 as oil, LNG and gas prices...

Read more
Path to net zero: European oil majors outpace US companies on climate goals
Europe

Path to net zero: European oil majors outpace US companies on climate goals

by Oil Market
July 29, 2020
0

The strong and growing pressure on oil and gas companies to dramatically reconfigure their core businesses to accept a...

Read more
Oil price holds near four-month high amid bearish signals – News for the
Europe

Oil price holds near four-month high amid bearish signals – News for the

by Oil Market
July 28, 2020
0

Oil held near a four-month high after speculation the Federal Reserve will keep U.S. interest rates near zero for...

Read more
Traore uses BABY OIL to slip opponents and avoid another dislocated
Europe

Traore uses BABY OIL to slip opponents and avoid another dislocated

by Oil Market
July 26, 2020
0

ADAMA TRAORE is feared throughout Europe for his blistering pace. However, Chelsea defenders beware - the speedy Spaniard literally...

Read more
Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 bln charge,
Europe

Schlumberger eyes deeper cost cuts as oil rout triggers $3.7 bln charge,

by Oil Market
July 25, 2020
0

The large loss capped second-quarter reports from U.S. oilfield services providers that laid bare the damage wreaked by the...

Read more
Next Post
UN encouraged experts may get to visit oil tanker off Yemen

UN encouraged experts may get to visit oil tanker off Yemen

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Oil Edges Lower With U.S. Gasoline Stockpiles Seen Expanding

Oil Edges Lower With U.S. Gasoline Stockpiles Seen Expanding

3 years ago
Oil producers appeal for time to comply with regulations during pandemic

Oil producers appeal for time to comply with regulations during pandemic

3 years ago
Grand Jury Report Into Natural Gas Drilling Set for Release

Grand Jury Report Into Natural Gas Drilling Set for Release

3 years ago
Energy Stocks Lead Markets Higher as Oil Tops $40 | The Motley Fool

Energy Stocks Lead Markets Higher as Oil Tops $40 | The Motley Fool

3 years ago
Oil & Gas Automation and Control System Market 2020 Global Industry Trends,

Oil & Gas Automation and Control System Market 2020 Global Industry Trends,

3 years ago
JP Morgan Predicts $100 Oil | OilPrice.com

JP Morgan Predicts $100 Oil | OilPrice.com

3 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com