By John Lee. National Oil Corporation (NOC) subsidiary Harouge Oil Company has replaced Ras Lanuf storage tank no. 7, which has a capacity of 500,000 barrels of crude oil, bringing the port’s storage capacity to its highest level since 2016. This will help prevent forced oil field shutdowns, especially during winter weather which can disrupt […]
Tag Archives | oil storage
Tags: featured, Harouge Oil Operations, National Oil Corporation (NOC), oil storage, ports, Ras Lanuf, tank farms
Libya's $60bn in Lost Oil Revenue
By Aref Nayed on 26th January 2016 in Banking & Finance, Industry & Trade, Oil & Gas, Politics, Security
By John Lee. The Chairman of the Tripoli-based National Oil Corporation (NOC), Mustafa Sanalla, has said Libya has lost $60 billion in production and exports as a result of disruptions at oil ports and fields over the last three years. He added that attacks by Islamic State militants (IS, ISIS, ISIL, Daesh) have caused “tremendous” damage […]