The Libyan government is working on a plan for the development of renewable energy to tap the potential of solar and wind power in the North African country, said the oil and gas minister in the Libyan outgoing government.
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Head of the Zueitina Oil Port Workers Union, Maree Bridan, confirmed the continuation of the port closure and the cessation of oil exports.
The Libyan Arabian Gulf Oil Company (AGOCO) confirmed that a leak at one of the Sarir Tobruk oilfield pipelines led to a loss of 220 thousand barrels per day.
Oil Minister of Abdul Hamid Dbeibeh’s outgoing government, Mohamed Aoun, suggested to Turkey’s Ambassador to Libya, Kenan Yilmaz, signing a memorandum of understanding in the field of oil and gas as the first step to start cooperation between Libya and Turkey in the field.
Controller of Hariga Oil Port in Tobruk, Rajab Sahnoon, said protesters gathered outside the port and fired shots because they were prevented from entering the port in protest against the export of crude oil.
Oil prices rose on Thursday, recovering from early losses, on hopes that a planned easing of restrictions in Shanghai would improve fuel demand, while continuing concerns over limited global supplies overshadowed fears of slowing economic growth.
Chairman of the Libyan National Oil Corporation (NOC), Mustafa Sanalla, said there are exciting capabilities in Libya to develop hydrocarbons to provide Europe with oil and natural gas through the sea by the pipelines using the existing infrastructure, according to NOC.
The U.S. Embassy in Libya has announced that it “fully supports the temporary freezing of oil revenues in the National Oil Corporation account at the Libyan Foreign Bank until there is agreement on a revenue management mechanism.”
An official statement issued by the Libyan Parliament Speaker Aqila Saleh confirmed Saturday the freezing of oil revenues at the Libyan Foreign Bank until “the establishment of guarantees and a mechanism for all Libyans to benefit from this income, in a manner that achieves justice and equality for all.”
Oil prices fell more than 1 percent on Thursday in a volatile week as economic and recession fears hobbled global financial markets, outweighing supply concerns and geopolitical tensions in Europe.