Browsing: Oil & Gas

Global energy companies including France’s TotalEnergies, Spain’s Repsol, Italy’s Eni and Switzerland’s BGN stated that they are committed to sustainable energy in Libya, highlighting the various ways they are prioritizing low-carbon solutions during the Libya Energy & Economic Summit which took place in Tripoli this week.

The The Petroleum Facilities Guard of Libya have strengthened security in the vicinity of the Mellitah oil and gas complex, the only hub for the export of Libyan gas to Italy through the Greenstream gas pipeline, coinciding with the protests that threaten its closure, reports Italian news agency Nova.

The Libyan National Oil Corporation’s Chairman, Farhat Bengdara, and the Algerian state Sonatrach Company’s General Director, Rachid Hachichi, signed today annexes to extend the Exploration Production Sharing Agreement (EPSA) agreements for Area 95/96 and Area 65, to compensate Sonatrach for the suspension period due to the force majeure situation, according to the Government of National Unity (GNU).

Oil steadied on Wednesday, giving up most of its earlier gains, as Middle East supply concerns arising from the Israel-Hamas war and the shutdown of a top Libyan oilfield balanced rising U.S. output and worries about weak economic growth, according to Reuters.