Tag Archives | oil reserves

Libya's Oil Blockade Losses exceed $3.5bn

By John Lee. Libya's National Oil Corporation (NOC) has said the financial losses resulting from the ongoing blockade of its oil facilities now exceed $3.5 billion, as oil production falls to just 95,837 barrels per day (bpd). In a statement late on Monday, the company said: "The NOC continues to work hard to serve all […]

Update on Oil and Gas Reserves

Libya's Minister of Oil, Dr. Naji El-Maghrebi, has said the country's oil and natural gas reserves are at about 77 billion barrels and 177 trillion cubic feet respectively. In an interview with KUNA, he said current production was at 350,000 to 380,000 barrels per day, adding that Libya was keen on increasing production to one […]