Oil

French energy company Total (TOTF.PA) substantially raised its presence in Libya with the purchase of a 16.33 percent stake in Libya’s Waha concessions from U.S. Marathon Oil (MRO.N) for $450 million on Friday, Reuters…

PetroChina Co. agreed to an annual contract to buy Libyan crude after similar deals by oil majors like Royal Dutch Shell Plc and BP Plc, underscoring a recovery in the North African country’s production even as its…

Spanish energy company Repsol says cost reduction efforts, resumed production in Libya and rising market prices for crude boosted its earnings rise last year.Repsol S.A. said Wednesday it posted net income of 2.121 billion euros ($2.6…

Oil gained as Libya’s crude exports from a key terminal were disrupted and Saudi Arabia pledged that global producers will ease their output curbs without shocking the market. Futures in New York rose as much…

The Libyan National Oil Corporation (NOC) said in a statement on Saturday that it had declared force majeure on the Al-Feel oilfield after a protest by guards closed the field.Al-Feel, which produces 70,000 barrels per day (bpd) was…

The company operating the 70,000 barrel-a-day Al-Feel deposit, also known as Elephant, suspended output late Thursday after armed guards who work at the facility decided to occupy it to protest at unpaid wages, a person with knowledge…

Some workers at Libya’s Al-Feel oil field have been evacuated after guards withdrew in protest over pay, a local source from the town of Murzuq said on Wednesday. It was not clear if there was any impact on production at Al-Feel, which…

The Libyan National Oil Corporation (NOC) is having difficulties in receiving the necessary budget money from the government, the Chairman of the NOC, Mustafa Sanallah, said on Monday.“This could reduce production. The entire sector…

 The Libyan National Oil Corporation (NOC) on Monday confirmed that arrest warrants have been issued by the Attorney General against fuel smugglers in western Libya. “NOC commends the Attorney General’s…

 Libya’s oil production averaged more than 1 million bpd in January, for the first time topping the million-bpd-mark for a full month since July 2013, data provider Genscape has estimated. Last month Libya…

Three militants from the so-called Islamic State (IS) were killed and others wounded as Petroleum Facilities Guard (PFG) forces thwarted an attack by the terrorists on Zallah, central Libya. The clashes between the…

 The Libyan authorities said on Saturday that it is seeking to diversify sources of national income now based entirely on oil. Libya "seeks to benefit from financial revenues of exports, in order to reduce the…

Libya’s crude oil production has risen 400% since August 2016 as the country plans to increase its oil production in 2018 despite production cuts.Market Realist reported that any increase in Libya’s crude oil production could weigh…

The Libyan National Oil Corporation (NOC) announced on Sunday reopening the eastern Assarah oilfields, which produce more than 50,000 barrels per day (bpd) but had been shut in by a blockade since last November.According to sources…

Royal Dutch Shell  and British Petroleum agreed to annual deals to buy Libyan crude, underscoring how Libya's recovering production and improving security are enticing some of the world’s largest oil companies, reported Bloomberg. …

The Libyan National Oil Corporation (NOC) said it had won two international arbitration cases over Ras Lanuf refinery, and called for the refinery to restart as soon as possible."The arbitration cases, which date to 2013, had been…

The Central Bank of Libya (CBL) has issued a statement on Thursday detailing the revenue and income of the country during 2017.The CBL explained that the total of the Libyan state's revenue from oil was 14 billion dollars, compared…

The Libyan National Oil Corporation (NOC) revealed Wednesday that it had started investigating an incident of a near collision of an unidentified plane with a helicopter carrying personnel from a sea platform in Sabratha.The NOC…

The Libyan oil sector is likely going to start repairs Saturday or Sunday on a crude oil pipeline that had been blown up earlier this week, an oil official reported, according to Reuters.An explosion on Tuesday about 130 km (80…