Qatar's Ambassador participates in meeting of Head of Libyan Government of National Unity with Ambassadors of Arab, African, Islamic States
QNATripoli: Ambassador of the State of Qatar to Libya HE Khalid Mohammed Al Dosari took part in the meeting of Head of the Government of National Unity in the State of Libya HE Abdul Hamid Muhammad Al Dbeiba with Their Excellencies ambassadors of the Arab, African and Islamic States accredited to Libya. During the meeting, Their Excellencies ambassadors were apprised of the latest political developments in Libya.
Source:Libya Today
January 03, 2024 23:14 UTC
Protesters Force Shutdown at Libya's 300,000 b/d Sharara Oilfield, Reports Say -- OPIS
Local protesters have halted production at the Libya's Sharara oilfield, according to Reuters and other media reports on Wednesday. The Sharara oilfield is one of the largest in Libya and can produce up to 300,000 bbl/day. It is operated by a joint venture between Libya's National Oil Company and Spain's Repsol, France's TotalEnergies, Austria's OMV and Norway's Equinor.
Source:Libya Today
January 03, 2024 22:47 UTC
Protests shut down Libya's Sharara oilfield
An engineer had earlier told Reuters a partial reduction in production had taken place and said that protesters were in front of the gate of the oilfield. The Sharara field, one of Libya's largest, has been a frequent target for local and broader political protests. It is run by state oil firm NOC via the Acacus company, with Spain's Repsol, France's Total, Austria's OMV, and Norway's Equinor. In July, production at the Sharara, Elfeel and 108 fields was stopped by tribal protesters over the abduction of a former finance minister. Libya's oil output has been disrupted repeatedly in the chaotic decade since the 2011 NATO-backed uprising against Muammar Gaddafi.
Source:Libya Today
January 03, 2024 20:57 UTC
Libya’s largest oil field halts production followings protests
Libya’s largest oil field halts production followings protests(Bloomberg) – Libya’s largest oil field halted production after protesters entered the facility, according to a person with direct knowledge of the operations. The Sharara oil field was producing roughly 270,000 bpd on Tuesday before the protests began. Libya’s energy facilities have been the focus of conflict since the fall of dictator Moammar Al Qaddafi in 2011, with armed factions shutting down oil production to press their political and economic demands. Continuing agitation will result in “a tumbling of exports, in addition to shaking the confidence of foreign partners and impeding efforts to stabilize production,” according to the NOC letter. OPEC member Libya kept production stable at around 1.2 MMbpd for most of the last year.
Source:Libya Today
January 03, 2024 20:53 UTC
Benghazi Chamber visits Tunisia – meets with several chambers of commerce
The Benghazi Chamber of Commerce reported today that the Commercial Attache of the Tunisian Embassy in Libya organized for it a working visit to Tunisia from 17 to 23 December 2023. The visit included meetings with active commercial actors, including the Tunisian Export Promotion Centre, Tunis Chamber of Commerce and Industry, Bizerte Chamber of Commerce, Industry and Agriculture, the Chamber of Commerce and Industry Sousse, and Sfax Chamber of Commerce and Industry. The meetings, Benghazi Chamber reported, dealt with signing memorandums of understanding to enhance joint work opportunities, discussing increasing the volume of trade and investment opportunities, and organising bilateral visits for business leaders associated with economic, trade and investment forums between the two countries.
Source:Libya Today
January 03, 2024 20:45 UTC
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Oil prices surge on Libya disruption and Red Sea attacks
Oil prices rose by nearly 3 per cent on Wednesday on the back of supply concerns after reports of disruption in Libya's largest oilfield as well as the continuing attacks in the Red Sea. "Strong supply growth was one factor dragging fossil-fuel prices lower in 2023," UBS strategists said in a note on Wednesday. "Looking back at 2023, oil prices ended lower than we had expected. However, despite Opec+ removing output from May onwards, the oil market was "less undersupplied in the second half of 2023 than we had expected". Supply growth outside Opec+ was also strong, with total production up by about 1.8 million bpd in 2023.
Source:Libya Today
January 03, 2024 18:18 UTC
Indonesia vs Libya Prediction and Betting Tips | January 5th 2024
Indonesia will face Libya at the Titanic Mardan Stadium on Thursday in another friendly clash between the two sides. They were thrashed 4-0 by their midweek opponents in a friendly clash on Tuesday and will now aim to put out a much better showing in Thursday's rematch. Indonesia vs Libya Head-to-Head and Key NumbersThere have been three meetings between the two teams, with the African nation winning all three matchups by an aggregate scoreline of 10-1. Indonesia are without a clean sheet in their last three matches after recording four in their five games prior. Indonesia vs Libya PredictionIndonesia are on a three-game winless streak, with two of those games ending in defeat after losing just one of their seven games prior.
Source:Libya Today
January 03, 2024 18:08 UTC
Libya's 300,000 b/d Sharara oil field shut by protesters: sources
Libya's Sharara oil field, the country's largest, has been shut down by protesters from the southern Ubari region amid anger over high fuel prices and a lack of economic opportunity, sources said Jan. 3. Register NowProtests at the field, which were entering their third day, initially prompted workers at Sharara to shut some wells before the 300,000 b/d field was taken completely offline. Fuel prices in southern Libya have skyrocketed in recent months, sources said. The onshore Sharara field -- once thought to contain Africa's largest proven oil reserves -- has been a frequent target for protesters and armed groups since the fall of Muammar Gaddafi in 2011. A security source told S&P Global the Sharara shut down was caused by "local grievances" rather than any LNA involvement, adding: "Protesters do not represent a major threat."
Source:Libya Today
January 03, 2024 17:01 UTC
Oil prices gain 3% on supply concerns after oilfield shutdown in Libya By Reuters
Protests forced a full shutdown of production at OPEC member Libya's 300,000 barrel per day (bpd) Sharara oilfield. Oil prices also climbed due to continued attacks on vessels in the Red Sea by Houthi fighters. The Organization of the Petroleum Exporting Countries (OPEC) said cooperation and dialogue within the wider OPEC+ oil producer alliance will continue, after OPEC member Angola last month announced it would leave the group. UPCOMING U.S. REPORTSLooking ahead, the energy market is waiting for key U.S. interest rate and oil inventory data over the next couple of days. Analysts forecast U.S. energy firms pulled about 3.0 million barrels of oil from storage during the week ended Dec. 29.
Source:Libya Today
January 03, 2024 16:47 UTC
Protests force full production shutdown at Libya’s Sharara oil field, engineers say
Local protests have forced a full shutdown of production at Libya’s Sharara oil field, which can produce up to 300,000 barrels per day, two engineers told Reuters on Wednesday. A video circulating on the internet showed a number of local protesters from Fezzan region in southern Libya announcing the closure of the Sharara field until their demands are met. Libya’s National Oil Company (NOC) did not immediately respond to a request for comment. An engineer had earlier told Reuters a partial reduction in production had taken place and said that protesters were in front of the gate of the oil field. Libya’s oil output has been disrupted repeatedly in the chaotic decade since the 2011 NATO-backed uprising against Muammar Gaddafi.
Source:Libya Today
January 03, 2024 16:20 UTC
Libya’s Top Oil Field Halts Production Following Protests
(Bloomberg) -- Libya’s largest oil field halted production after protesters entered the facility, according to a person with direct knowledge of the operations. The field was pumping roughly 270,000 barrels a day on Tuesday before the protests began. Continuing agitation will result in “a tumbling of exports, in addition to shaking the confidence of foreign partners and impeding efforts to stabilize production,” according to the NOC letter. OPEC member Libya kept production stable at around 1.2 million barrels a day for most of the last year. Most Read from Bloomberg Businessweek©2024 Bloomberg L.P.
Source:Libya Today
January 03, 2024 15:46 UTC
Libya: The king is dead, long live the king
Of course we have all known that Khalifa Haftar pushed Belgassim, his brothers and other family members to take the lead on the reconstruction of the troubled region. The publication noted the fancy expressions from Belgassim Haftar, who spoke of the need for quality constructions and such. Good and all, but putting the Haftar family in charge is an affront for the Libya people and a sign that Libya is on the wrong track. Belgassim is not the only one in the Haftar family being propelled by the father. It is therefore crucial for the future of Libya to ensure that cronyism and nepotism do not take place, otherwise, as the French used to say: “Le roi est mort, vive le roi” (the king is dead, long live the king).
Source:Libya Today
January 03, 2024 15:38 UTC
Oil climbs as supply concerns deepen with Libyan oilfield disruption By Reuters
FILE PHOTO: Pump jacks of Wintershall DEA are pictured in Emlichheim near the northern German city of Meppen, Germany, March 9, 2022. REUTERS/Fabian Bimmer/File PhotoLCO +2.75% Add to/Remove from Watchlist CL +2.94% Add to/Remove from WatchlistBy Natalie Grover and Noah Browning(Reuters) -Oil prices rose more than a $1 a barrel on Wednesday after reports of a disruption to Libya's top oilfield added to supply concerns emanating from tensions in the Red Sea. Protests have forced a partial reduction in output at Libya's 300,000 barrel per day (bpd) Sharara oilfield, two engineers told Reuters. Oil prices had climbed around $2 earlier this week after attacks on vessels in the Red Sea by Houthi fighters. Meanwhile, expectations of ample oil supply in the first half of 2024 have contained prices ahead of OPEC+ plans to hold a meeting of its Joint Ministerial Monitoring Committee (JMMC) in early February.
Source:Libya Today
January 03, 2024 15:19 UTC
Output at Libya's Sharara oilfield hit by protests - engineers
Adds quotes, backgroundJan 3 (Reuters) - Local protests have forced a reduction in output at Libya's Sharara oilfield, which can produce up to 300,000 barrels per day, two engineers told Reuters on Wednesday. A video circulating on the internet showed a number of local protesters from Fezzan region in southern Libya announcing the closure of the Sharara field until their demands are met. "We have started a partial reduction in the production," one of the engineers said, confirming that protesters were "in front of the field gate". The Sharara field, one of Libya's largest, has been a frequent target for local and broader political protests. Libya's oil output has been disrupted repeatedly in the chaotic decade since the 2011 NATO-backed uprising against Muammar Gaddafi.
Source:Libya Today
January 03, 2024 14:52 UTC
Oil Climbs as Middle East Tensions Increase, OPEC Pledges Unity
(Bloomberg) -- Oil extended gains as supply disruptions in Libya, increased tensions in the Middle East and an OPEC statement stressing its commitment to stabilizing prices ushered bulls back into the market. Most Read from BloombergWest Texas Intermediate rose more than 3% to trade above $72 on Wednesday. Further heightening tensions, Iran suffered two blasts that killed more than 100 people. Higher output from outside of the producer group has so far countered its efforts to tighten the market — but extended curbs take effect this week. Most Read from Bloomberg Businessweek©2024 Bloomberg L.P.
Source:Libya Today
January 03, 2024 14:18 UTC