Tag Archives | Production

Libya's Agoco says may stop output due to protests

Libya's Arabian Gulf Oil Company (Agoco) may halt production of crude if authorities do not put an end by Thursday to protests that have closed off its headquarters for a week, a company spokesman said. Protesters have prevented Agoco employees from entering its Benghazi-based office since last Monday, calling for more transparency over how Libya's […]

OMV quarter up on Libya

Increased output from Libya, recovering from the turmoil of civil unrest, helped Austria’s OMV boost production slightly in the first quarter, the company said in a trading statement released on Tuesday. The company’s total hydrocarbon production rose to 299,000 barrels of oil equivalent per day for the March quarter from 289,000 in the previous quarter, […]

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Libya oil minister says output near pre-war levels

Libya's oil minister says production is nearly back to its pre-war levels. It's now at 1.5 million barrels a day. Abdulrahman Ben Yezza says Libya could start pumping about 1.6 million barrels a day by midyear. That's what Libya produced before the eight-month conflict to oust dictator Moammar Gadhafi. That brought production to a halt. […]

OPEC Pumps More Oil as Iraq Boost Offsets Iran Decline, IEA Says

OPEC’s crude oil production rose to the most in more than three years in March as Iraq boosted output and offset a decline in Iranian supply, according to the International Energy Agency. The 12 members of the Organization of Petroleum Exporting Countries pumped 31.43 million barrels a day of crude last month, up from a […]

Libya's Agoco oil output at 331,000 bpd -spokesman

Libya's Arabian Gulf Oil Co (Agoco) is producing around 331,000 barrels of oil per day (bpd) and hopes to reach full production in a few weeks, a spokesman said on Thursday. "We hope that we will reach our normal production at the beginning of April," Agoco spokesman Abdeljalil Mayuf said by phone. The Benghazi-based company […]

Full return of Libyan oil to ease global pressure

Libya's oil exports are set to return to full pre-war levels by April this year, beating even the most optimistic estimates and potentially easing a global shortfall of oil caused by outages and conflicts. Libya plans to export almost 1.4 million barrels of oil per day (bpd) in April, a senior National Oil Corp (NOC) […]

OPEC Output Rises to Three-Year High on Saudi Arabia, IEA Says

OPEC’s crude oil production rose for a fifth month to the highest in more than three years as Saudi Arabia and Libya boosted supply, according to the International Energy Agency. The 12 members of the Organization of Petroleum Exporting Countries produced 31.42 million barrels a day of crude last month, the most since October 2008, the Paris-based agency […]

Libya resumes offshore exploration-NOC

Libya has resumed offshore exploration for the first time since the end of Muammar Gaddafi's era, and the work is being carried out at a bloc operated by Italy's Eni, the National Oil Corporation NOC) said on Monday. "The National Oil Corporation announces the resumption of exploration activity in the maritime area next to Tripoli […]