Browsing: Business

In light of the tension between Russia and the West, Libya is trying to maintain balanced positions, but is unable to produce enough gas to make up for a possible reduction of Russian supplies to Europe, said Libyan Oil Minister Mohamed Aoun.

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The new Tahara oil field in the Hamada area, in the west of Libya, will produce 14,000 barrels of oil per day, announced the Arabian Gulf Oil Company (AGOCO) in a press release. 

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The Libyan Oil and Gas Ministry denounced the joint statement issued by the embassies of a number of Western countries regarding the National Oil Corporation (NOC), which was supported by the United Nations Support Mission in Libya (UNSMIL).
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UN Support Mission in Libya (UNSMIL) announced Saturday it fully support the need to maintain the integrity and independence of the Libyan National Oil Corporation (NOC) to make sure that Libyan resources benefit all Libyans.
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Five Western nations urged Libyans on Friday not to drag the state-owned National Oil Corporation (NOC) into political disputes that could threaten the country’s fragile peace.

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Oil exports have been halted in four terminals, as severe weather suspended shipping in the Oil Crescent, sources from the National Oil Corporation (NOC) have confirmed.

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Oil prices recorded a jump in the global market, crossing the threshold of $100 a barrel on Thursday, for the first time in 7 years, after Russia announced the launch of a military operation in Ukraine.
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The Central Bank of Libya (CBL) confirmed on Tuesday that commercial banks across the country has cash balances of more than 2.7 billion Libyan dinars (435 million US dollars), Sada newspaper reports.

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Zueitina Oil Company said Wednesday that al-Sabah oil field was subjected to acts of sabotage and looting.
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Libya’s state-owned National Oil Corporation (NOC) on Monday announced the opening of the Tahara oilfield operated by Arabian Gulf Oil Co (AGOCO) in the Hamada area.

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