Oil regained some of its more than 2 percent decline in Asian markets on Thursday, weighed by the continuing situation in Ukraine.
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Browsing: Oil & Gas
Oil workers threaten to shut down production at an oil export terminal in eastern Libya by the end of February, Argus reported on Tuesday, quoting a shipping source.
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Libya’s Oil Minister Mohamed Aoun has accused the National Oil Corporation (NOC) of deliberate disruption of the wireless communications in his ministry, according to a leaked document.
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Oil prices were steady on Monday after hitting their highest in more than seven years on fears that a possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from one of the world’s top oil producers.
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The General Electricity Company of Libya (GECOL) has warned the residents of the western town of Khoms to expect more hours of power cuts after the town’s power plant lost 400 megawatts due to low gas pressure.
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Libya’s National Oil Corporation (NOC) and British Petroleum (BP) have agreed to resume exploration activities in line with a 2018 deal between the two companies and Italy’s ENI, the Libyan company said on Friday.
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The state-owned Libyan National Oil Corporation (NOC) announced on Friday that the country’s daily oil production has dropped by 100,000 barrels per day due to its inability to maintain oil tanks damaged by armed conflicts.
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Oil prices fell, on Thursday, on some profit-taking, but remained supported by a supply shortage as OPEC + producers stuck to moderate increases in production.
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Oil futures fell nearly one percent during the Asian session after jumping to their highest level since October 2014.
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OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their output.
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