Space Industry and Business News  
OIL AND GAS
Libyan oil production hits post-Gadhafi high
by Daniel J. Graeber
Washington (UPI) Feb 8, 2018

Total oil production from Libya in January was close to 1 million barrels per day on average for its highest level in more than five years, industry data show.

Libyan oil production had faltered in the years since the downfall of the regime of Moammar Gadhafi in 2011, nearly grinding to a halt as a result of simmering civil conflict. Economists at the Organization of Petroleum Exporting Countries, of which Libya is a member, reported production last year averaged 817,000 barrels per day, far less than its pre-Gadhafi levels of around 1.5 million bpd.

Market fundamentals and data reporting group Genscape said its monitoring found Libya produced about 1.08 million bpd in January, the country's highest level since July 2013.

"Based on radiant heat signatures, the fields appeared to operate relatively consistently, which has historically been a struggle for Libya," the group reported.

German energy company Wintershall last month was able to restart production from the C96 license area, part of the As-Sarah field, which the government said was closed illegally. Production was closed in November following pressure from a municipality that complained the national oil company wasn't meeting local demands.

Genscape's estimate from Libya is slightly less than that reported by commodity pricing group S&P Global Platts, which put the level at an average of 980,000 bpd. Nevertheless, that would still represent a recent high and a stark improvement from the average of 390,000 bpd reported by OPEC for Libya in 2016.

Platts reported that Libya is still struggling with national security issues, which earned it an exemption last year from OPEC's effort to balance an oversupplied market with coordinated production cuts. Combined with Nigeria, also exempt last year and producing around 1.9 million bpd in January, the two countries agreed this year to a cap of 2.8 million bpd.

In January, the head of Libya's National Oil Corp., Mustafa Sanalla, said production was linked to the nation's recovery.

"NOC is the foundation from which Libya can be regenerated," he said in a statement. "And if NOC is lost, Libya will take a long time to be put back together."


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Total commits further to LNG as a maritime fuel
Washington (UPI) Feb 6, 2018
French supermajor Total said Tuesday it made a deeper commitment to liquefied natural gas by chartering a refueling vessel for Europe-to-Asia trade routes. The marine fuels division of Total signed with Japan's Mitsui O.S.K. Lines, or MOL, a long-term charter commitment for a bunkering vessel scheduled for 2020 delivery. The vessel, the first designed for large-scale bunkering operations, will be built at a Chinese shipyard and service cargo vessels in northern European waters, including those ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Quantum cocktail provides insights on memory control

VR helps surgeons to 'see through' tissue and reconnect blood vessels

Latest Data From IMAGE Indicates Spacecraft's Power Functional

Virtual reality goes magnetic

OIL AND GAS
L-3 to provide advanced optics, sensors to U.S. Air Force

DARPA Seeks to Improve Military Communications with Digital Phased-Arrays at Millimeter Wave

Map of ionospheric disturbances to help improve radio network systems

Grumman to support BACN airborne communications system

OIL AND GAS
OIL AND GAS
Airbus selected by ESA for EGNOS V3 program

Pentagon probes fitness-app use after map shows sensitive sites

China sends twin BeiDou-3 navigation satellites into space

18 satellites in exactEarth's real-time constellation now in service

OIL AND GAS
EFW tapped to provide Apache aviator helmets

Australia warplane catches fire during US training: military

Australia welcomes fighter jets home after completing mission in Middle East

Jordan gets more US Black Hawks to bolster defences

OIL AND GAS
Understanding heat behavior in electronic devices boosts performance

Artificial agent designs quantum experiments

2-D tin stanene without buckling: A possible topological insulator

Quantum race accelerates development of silicon quantum chip

OIL AND GAS
Scientists explain the impacts of aerosol radiative forcing

Powerful new dataset reveals patterns of global ozone pollution

NASA's small spacecraft produces first 883-gigahertz global ice-cloud map

UK to play a major role in space weather mission concept

OIL AND GAS
An underestimated threat: Land-based pollution with microplastics

Air pollution closes all schools in Tehran

These bacteria produce gold by digesting toxic metals

'Oil-like' blobs hit Japan beaches after tanker sinks









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.