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 following 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 4 2015 - Russian cargo ship heads to ISSThe Peninsula
(MENAFN - The Peninsula) A Russian Soyuz rocket blasted off yesterday to deliver a cargo ship loaded with food, water and equipment to the International Space Station, breaking a string of launch ...

 Jul 4 2015 - Doha Bank raises QR2bn Tier 1 capital-boosting bondThe Peninsula
(MENAFN - The Peninsula) In March, the bank said that it would issue capital-enhancing bonds with a perpetual tenor and an option for the bank to redeem them after six years, to boost the bank's Tier ...

 Jul 4 2015 - Qatar stock index edges lower this weekThe Peninsula
(MENAFN - The Peninsula) Qatar Stock Exchange (QSE) index edged lower this week when the bourse closed Thursday at 12,121.08 points, down 12.15 points, or 0.10 percent.The traded value of QR 1.32bn ...

 Jul 4 2015 - Mideast passenger demand growth soars 14pc: IATAThe Peninsula
(MENAFN - The Peninsula) The International Air Transport Association (IATA) announced global passenger traffic results for May showing strong demand growth compared to May 2014 for both domestic and ...

 Jul 4 2015 - Qatar- Milaha acquires 100pc controls in two liquefied gas carriersThe Peninsula
(MENAFN - The Peninsula) Milaha announced that its wholly owned subsidiary, Qatar Shipping Company, acquired the remaining 60 percent interest in each of the two entities that own the liquefied ...

 Jul 4 2015 - Tunisia arrests eight with 'direct links' to beach massacreThe Peninsula
(MENAFN - The Peninsula) Tunisia has arrested eight people in connection with last week's jihadist massacre at a seaside resort, as the remains of more British victims were set to be flown home ...

 Jul 4 2015 - Egyptian air strikes kill 23 militants in North Sinai: sourcesThe Peninsula
(MENAFN - The Peninsula) Egypt launched air strikes on Islamist militant targets in the Sinai peninsula on Thursday, killing 23 fighters a day after the deadliest clashes in the region in years, ...

 Jul 4 2015 - Saudi opens privatised airport for pilgrimsThe Peninsula
(MENAFN - The Peninsula) Saudi Arabia yesterday officially opened a billion-dollar aviation gateway aimed at pilgrims, in its first airport privatisation. Local media said Custodian of the Two Holy ...

 Jul 4 2015 - Kuwaiti Sunni and Shi'ite worshippers, pray together with Emir showing unityThe Peninsula
(MENAFN - The Peninsula) Kuwait deployed unprecedented security measures around Shiite mosques for Friday prayers following last week's deadly bombing, as the emir attended a rare Shiite-Sunni joint ...

 Jul 4 2015 - Top jihadist from Tunisia killed by US strike in LibyaThe Peninsula
(MENAFN - The Peninsula) A top Tunisian jihadist was killed by a US airstrike in Libya last month, The New York Times reported Friday.The jihadist, Seifallah Ben Hassine, also known as Abu Ayadh, was ...

more...


 






Google

Click to Apply

 
 

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