Libya to Cut Oil Production Due to Protests
We are talking about fishing at the Al–Sharara field, about 300 thousand barrels are produced per day. The Libyan National Oil Corporation (NOC) has announced the beginning of a reduction in oil production at one of the country‘s largest fields, Al–Sharara, due to the actions of protesters. “The National Oil …
Libya Has Limited Production at Its Largest Oil Field Due to Instability
In Libya, oil production was partially stopped at the country‘s largest Sharara field on August 4 due to unauthorized entry. The maximum capacity of Sharara is 320 thousand barrels per day. According to S&P Global Commodity Insights, production losses now range from 28-70 thousand b/s. Sharara is a joint project …
NOC Announced The Resumption of Oil Production at One of Libya’s Largest Fields
According to Libya al-Ahrar, the resumption of oil production was made possible thanks to the consent of local residents to leave Ash-Sharare. The Libyan National Oil Corporation (NOC) announced the termination of force majeure at one of the largest fields in the country, Al Sharara, and the resumption of oil …
OMV will Begin Exploration Drilling on Libyan Assets in February 2024
Austrian OMV intends to begin exploratory drilling in Libya in February 2024. Company representatives announced this at a meeting at the headquarters of the National Oil Corporation of Libya (NOC) in Tripoli. The meeting was attended by the director of the exploration department of NOC, the deputy general director of …
Algerian Sonatrach Returns to Libya
The Algerian company said it was negotiating the resumption of work on assets in Libya. Sonatrach from Algeria discussed with the Libyan NOC the prospects for resuming geological exploration in blocks 065 and 96/95 in the Ghadames basin in Libya. As the Algerian company clarifies, it is ready to begin …
In Ugra, Khudainatov’s Company Was the Only One Claiming an Oil Field
Nyaganneft (part of Eduard Khudainatov’s NOC) acquired the rights to develop the Lebyazhye field in Khanty-Mansi Autonomous Okrug for more than 600 million rubles. “The auction was declared invalid,” Ura.ru quotes a representative of the electronic trading platform. – However, according to the auction rules, the right to use the …
Eni Ends Nine-Year Force Majeure on Three Exploration Assets in Libya
Eni and Libya’s state-owned NOC have canceled force majeure on three onshore and offshore blocks almost 10 years later, after they were forced to halt exploration work due to security conditions. Eni has formalized with its partner, the Libyan national oil and gas company NOC, the cancellation of force majeure …
New Oil Deposits Discovered in Libya
Tatneft, together with the National Oil Corporation of Libya (NOC), discovered new oil deposits in the Ghadamis basin with a flow rate of 1,870 barrels per day. This was reported by RIA Novosti with reference to the NOC message. “The Libyan branch of PJSC” TATNEFT “as the second party (operator) …
Rosneft Increases its Stake in the National Oil Consortium to 80% of Shares
Rosneft and Lukoil signed a package of legally binding documents regarding Rosneft’s acquisition of 20% share in the National Oil Consortium LLC (NOC). Due to this deal the share of Rosneft in the charter capital of NOC will increase to 80%, with the remaining 20% owned by Gazprom Neft. Consolidation …
LUKOIL Agrees to Sell Its Interest in National Oil Consortium
OAO LUKOIL and OAO Rosneft Petroleum Company signed a package of legally binding documents regarding the sale of LUKOIL’s interest in OOO National Oil Consortium (NOC), in Moscow today. LUKOIL intends to sell its 20% stake in the authorized capital of the NOC, established by Russian oil companies in October …