Libya’s Oil Production Set To Halve In Next Few Years
Libya’s oil production that has dropped sharply in recent months is set to nearly halve in the coming years thanks to an oil blockade that has been in force since Continue Reading
Libya’s NOC warns of irreparable damage to oil sector from blockade
Libya’s state-owned National Oil Corp. warned July 7 the country’s crude oil output could halve in the coming years unless the ongoing blockade on its eastern terminals is lifted soon. Continue Reading
Latest deadly Mozambique attack raises stakes further for LNG projects
Highlights Militants kill eight contract workers close to LNG developments Home to more than 30 million mt/year of planned LNG capacity Developers could look to private military contractors: analyst London Continue Reading
Libya’s NOC ready to lift force majeure from Es Sider to allow tanker loading
Highlights Delta Ocean tanker en route to load crude from storage NOC demands removal of mercenaries, armed groups from terminal Deal to restart output still to be agreed London — Continue Reading
FUJAIRAH DATA: Stockpiles slump to two-month low, light distillates down 9%
Stockpiles of light, middle and heavy distillates at the oil trading and bunkering hub of Fujairah declined to a two-month low July 6, extending declines from the record set in Continue Reading
Libya Warns Impact of Oil Blockade Could Reverberate for Years
Repeated shutdowns of Libya’s oil facilities amid a civil war could leave the country producing at just half its total capacity in the coming years, the National Oil Corp. said. The OPEC Continue Reading
Tensions rise on the Nile over Africa’s largest dam
Egypt, Ethiopia, and Sudan are engaged in last-ditch talks to resolve a dispute over Addis Ababa’s construction of a giant dam on the river Nile that Cairo fears could lead Continue Reading
Venezuela’s Oil Riches Are Quietly Falling Under Russian Control
For decades during the Cold War, Latin America was a focal point of conflict between the two superpowers, the U.S. and Soviet Union. While the U.S. emerged victorious after the Continue Reading
Debt-Stricken Mexican Oil Major Asks For Payment Deferrals
Mexico’s state oil firm Pemex is asking some of its contractors if they would agree to be paid for their services next year, people familiar with the payment situation at Continue Reading
World’s Biggest Oil Importer Is Running Out Of Storage
When the bottom fell out of international crude oil markets earlier this year, global oil storage was at a premium. In the United States, finding sufficient crude oil storage became Continue Reading