Libya’s daily oil production, which averaged 1.2 million barrels last year, is down by about 1.1 million barrels, Oil Minister Mohamed Oun told Bloomberg on Monday.
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Oil prices sank on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures.
Oil prices extended gains on Thursday, supported by strong demand in the United States, while demand in China is expected to rebound with the easing of Covid-19 restrictions in major cities.
Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, met on Wednesday with the Director General of the British Schlumberger Oil Company – Libya Branch, Mustafa Ajaj.
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.
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.