Libya has agreed with Eni and BP to begin extracting natural gas from a Mediterranean gas field believed to be bigger than Egypt’s huge Zohr field, the head of the National Oil Company (NOC) told Skynews Arabia on Monday.
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Libya plans to host exhibition on Algerian goods and products in Tripoli “during the coming period,” announced the Libyan Ministry of Economy on Sunday.
Airbus confirmed on Friday it is negotiating a new bribery settlement with French authorities over past dealings in Libya and Kazakhstan on top of record fines agreed in 2020.
The Tripoli-based Government of National Unity officially approved today selling shares of the U.S. Hess Corporation in the Waha oilfield to France’s Total Energies and U.S. Conoco Phillips.
Issa Al-Araibi, the Head of the House of Representatives’ Energy Committee has threatened to shut down the country’s oil port in protest against foreign interference in the country, particularly that of Turkey.
U.S. President Joe Biden is once again tapping into the country’s emergency stockpile of oil as the White House tries to prevent gasoline prices from spiking again, reducing the petroleum reserve to its lowest level in four decades, according to a report by Fox News.
The National Oil Corporation (NOC) confirmed Friday that Libyan oil production amounted to 1.184 million barrels per day.
Two former London bankers hired by Libya to manage hundreds of millions of dollars in investments are accused of defrauding the sovereign fund by funneling off cash for themselves.
The Libyan outgoing Prime Minister Abdul Hamid Dbeibeh said that he does not care about the opinion of the countries that opposed the signing of the hydrocarbons agreement with Turkey, pointing out that he is primarily interested in making the Libyan people understand the reality of what he is doing.
Oil prices stabilized near a three-week high Thursday after OPEC+ agreed to reduce global crude supplies by reducing production by about two million barrels per day, in the largest reduction since 2020.