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)
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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.
One of the main challenges facing Libya’s oil sector is the lack of funding, said Farhat Binqadara, chairman of the National Oil Corporation (NOC).
Libya will resume exporting crude oil on July 20 following a prolonged closure which ended after a new board was picked for the The National Oil Corporation (NOC), announced the state-owned oil company on Monday.
Brent crude futures for September settlement rose 69 cents, or 0.7 percent, to $101.85 a barrel, after rising 2.1 percent on Friday.
Following the announcement of the lifting of force majeure on all fields and oil terminals in Libya by the National Oil Corporation (NOC), the oil tanker IBELA, carrying the Italian flag, entered to load and export a shipment through the Brega oil terminal of the Sirte Oil and Gas Company, according to NOC.
The Italian Embassy in Libya has welcomed the announcement of the resumption of oil production and export in Libya and the lifting of force majeure on all ports.
An armed force deployed outside the National Oil Corporation (NOC) headquarters in Tripoli late on Wednesday, three witnesses said, after the chairman Mustafa Sanalla gave a speech rejecting a government decision to sack him.
Today, Mustafa Sanalla, the former chairman of the National Oil Corporation (NOC), arrived back to the oil company’s headquarters in Tripoli, a day after Abdul Hamid Dbeibeh sacked him.
Organization of Petroleum Exporting Countries (OPEC) revealed that Libya’s oil production declined by 78,000 barrels per day during June, compared to May, making the country among the 4 countries that led the decline in OPEC production during the past month.