Libya Business News
Wednesday, March 22, 2023
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Oil & Gas

Libya's oil exports to hit 800,000 bpd in Jan-NOC

12th January 2012
in Oil & Gas
Libya's oil exports to hit 800,000 bpd in Jan-NOC
Share on FacebookShare on Twitter

Libya's oil exports are set to rise to 800,000 barrels per day in January, a senior source at the National Oil Corporation (NOC) told Reuters on Thursday.

This compared to exports of around 500,000 bpd in December. The NOC expects to deliver between 40 and 45 cargoes of crude oil this month, the source said.

Libya's oil output is rapidly returning to pre-war levels and provided the biggest increase to OPEC supply last month, when production from member states rose to the highest since 2008.

The main reason oil output is still below pre-war levels of around 1.6 million barrels per day is a lack of power generation, which is preventing some fields from restarting or reaching full capacity, according to the NOC.

"I think output will return faster than planned, the only obstacle is power generation. Some (power generators) have been damaged or stolen in many places," the NOC source said.

Libya has awarded contracts to buy its prized, sweet oil to a selection of oil majors and trading houses, breaking from a policy of restricting sales to refiners in the region.

Trading houses including Glencore and Swiss-based trading giants Vitol, Gunvor and Trafigura together will receive around 70 cargoes this year.

(Source: Reuters)

Tags: NOCoil production

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.