Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

South Libya oilfield resumes limited output  Join our daily free Newsletter

MENAFN - AFP - 05/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Limited production has resumed in Libya's al-Sharara oilfield, blockaded since October 28 by residents of the southern region of Ubari, a National Oil Company official told AFP on Sunday.

The southern oilfield is now producing some 60,000 barrels per day compared with its pre-October output of some 330,000 bpd, the official said.

"Production at the Al-Sharara well has restarted progressively since Saturday with production of 60,000 bpd pending the resumption of its normal capacity in two or three days," said NOC spokesman Mohamed al-Harairi.

The government on Thursday convinced Ubari residents to end their blockade, in which they had been protesting against their "marginalisation" and demanding oil revenues be distributed more evenly.

Al-Sharara is run by Akakus, a joint venture between Libya's NOC, Spanish company Repsol, France's Total and Austria's OMV.

The operation of two other oilfields in eastern Libya, Msala and Sarir, resumed late last month after being suspended for several months followg the shutdown of the Al-Harriga terminal.

Oil installation guards calling for autonomy for the eastern region of Cyrenaica sparked the crisis when they shut down key sites in the east.

The crisis is ongoing, and on Thursday the guards reiterated their conditions for lifting the blockade, including a bigger share of oil revenues for Cyrenaica.

An attempt to mediate launched by lawmakers and civil society groups has failed to reach any concrete results.

On Saturday, state-owned NOC decided to keep in place the force majeure it declared in August at its main oil terminals.

"Force majeure will be kept in place in the oil ports or Ras Lanouf, Al-Sedra and Zueitina," a statement said, warning clients against sending ships to load or unload cargos.

The crisis has seen output plunge to about 250,000 bpd from nearly 1.5 million bpd before.

Oil Minister Abdelbari al-Arusi said in early December that lost production because of the blockades had cost Libya around 9.0 billion (6.6 billion euros) in revenues.


 


AFP




  MENA News Headlines
 Jul 29 2016 - Saudi injects billions in Asia to draw clients for its oilMENAFN
(MENAFN) With crude prices deteriorating by more than half in the previous two years, the Saudis and other oil-rich nations are basically fighting to lock in and guarantee customers, according to the ...

 Jul 29 2016 - Oman's logistics flourish amid steady political climateMENAFN
(MENAFN) the logistics sector in Oman is not projected to be impacted although oil prices continue to fall, on the back of the vast investments being made in ports, airports and roads sectors ...

 Jul 29 2016 - Kuwait supports Niger's infrastructure with major loanMENAFN
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) closed USD19.7 million loan arrangement with African Niger to fund a vital transportation scheme.Accordingly, this is the 12th loan ...

 Jul 29 2016 - Ooredoo SSM's sell iTunes, Facebook, Steam, Xbox, Google Play vouchers and moreThe Peninsula
(MENAFN - The Peninsula) Ooredoo and Osool Media officials after signing a partnership agreement. Doha: Ooredoo, in partnership with Osool Media, have today announced the official launch of a ...

 Jul 29 2016 - Diversions on East Industrial Road, Al Mamoura Underpass and service road on D-Ring RoadThe Peninsula
(MENAFN - The Peninsula) Doha: The Public Works Authority (Ashghal) has announced that it will put in place a temporary diversion on part of the southbound lanes of the East ...

 Jul 29 2016 - Petrol prices to go up marginally in AugustThe Peninsula
(MENAFN - The Peninsula) DOHA: Petrol prices will see a 5 dirhams rise in August, according to the new price list issued by the Ministry of Energy and Industry. Both Super grade petrol and ...

 Jul 29 2016 - Qatar- HH the Emir Holds Session of Talks with Argentinian PresidentThe Peninsula
(MENAFN - The Peninsula) Buenos Aires: HH the Emir Sheikh Tamim bin Hamad Al-Thani and President of the Argentine Republic, Mauricio Macri, held a session of official talks on Thursday night ...

 Jul 29 2016 - Qatar- Photo Album: Emir in ArgentinaThe Peninsula
(MENAFN - The Peninsula) if(window.innerWidth < 728){ googletag.display('div-gpt-ad-796530061225000279-1'); } ...

 Jul 29 2016 - Brexit heralds a new era in UK-GCC relations?The Peninsula
(MENAFN - The Peninsula) By Sean Evers You";re landing at New York";s LaGuardia Airport on the 'expressway” approach—it";s called that because you come in low enough to buzz the ...

 Jul 28 2016 - Wagner rips apart rusty ZimbabweThe Peninsula
(MENAFN - The Peninsula) Zimbabwe batsman Hamilton Masakadza runs past bowler Neil Wagner during the first day of the first test match in a series of two tests between New Zealand and hosts Zimbabwe ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help