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.
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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.
Brent crude futures for September settlement fell 67 cents, or 0.7 percent, to $102.53 a barrel, down for a fourth day.
Workers at Libyan oil and gas sector expressed their dissatisfaction and complete rejection of statements of US ambassador Richard Norland and UN advisor Stephanie Williams and “their blatant interference in the management of the oil sector in Libya,” pointing out that this is considered a violation of the state’s sovereignty and independence.
The Libyan National Oil Corporation (NOC) and its companies has achieved a relative increase in oil production, with current production reaching 860,000 barrels per day, while the pre-reopening production rate was 560,000 barrels per day, according to NOC.
A tanker carrying one million barrels of crude oil to Italy docked Wednesday at the Sidra oil port in Libya, according to the National Oil Corporation (NOC)
Oil prices fell on Thursday for the second consecutive session, as demand concerns overshadowed limited global supplies after US government data showed tepid gasoline consumption during the peak summer driving season.