Libya aims to increase the level of oil production to two million barrels per day, announced the state-owned National Oil Corporation (NOC) on Thursday.
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Oil prices fell in Asia on Thursday, after rising more than $1 in the previous session, as concerns about supply disruptions eased and markets looked for evidence of improving fuel demand.
The workers of the Libyan Fertilizer Company (LIFECO) managed Tuesday evening to restart the second ammonia and urea plants after a stop of more than seventy days, according to the National Oil Corporation (NOC).
The Brega Oil Marketing Company has confirmed the availability of fuel in the Sabha warehouse, with sufficient quantities for two weeks.
Oil prices fell, during Thursday’s trading, after US data indicated weak demand for fuel.
The National Oil Corporation (NOC) and General Electricity Company of Libya (GECOL) have reviewed the challenges facing the latter in terms of supplying power grids with electricity.
The Ministry of Oil and Gas of the Government of National Unity has denied the reports relating to the alleged evacuation of the U.S. company Halliburton from the country.
Oil production in Libya reached over a million barrels per day after the reopening of the wells and export terminals, announced the Tripoli-based government on Thursday.
Oil rose more than $1 a barrel on Thursday, extending gains from the previous session, supported by improved risk appetite among investors, while falling crude inventories and reviving US gasoline demand supported prices.
The price of OPEC basket of thirteen crudes stood at US$109.35 a barrel on Tuesday, compared with US$106.27 the previous day, according to OPEC Secretariat calculations.