Space Travel News  
OIL AND GAS
Libya sets sights on build in oil production
by Daniel J. Graeber
Tripoli, Libya (UPI) Dec 21, 2016


disclaimer: image is for illustration purposes only

A national oil company in Libya said two major oil fields are now reconnected to pipeline infrastructure and oil is flowing freely for the first time in years.

The National Oil Corp. confirmed the western Sharara and El-Feel oil fields were reopened and connected to pipelines after a blockade that lasted almost two years. NOC Chairman Mustafa Sanalla said in a statement the reopening came as a result of national efforts following years of civil conflict.

"There were no payoffs and no backroom deals," he said. "For the first time in nearly three years all our oil can flow freely."

Sanalla said the milestone would bring another 175,000 barrels of oil per day to national production within a month and another 270,000 bpd within three months. Combined, production capacity for both fields is 420,000 bpd, the chairman said.

Libya is a member of the Organization of Petroleum Exporting Countries exempt from an agreement to cut production starting in January. The agreement is aimed at restoring balance to a market favoring the supply side. Before the announcement from the NOC, OPEC said Libya and Nigeria, another producer with an exemption, contributed most to production gains in November.

Industry sources reporting to OPEC said crude oil production from Libya has doubled since August to about 600,000 barrels per day as national forces gained control over oil ports in the country.

"Free from OPEC output restrictions, Libya has effectively been given carte blanche to increase oil production to its pre-2011 crisis level of 1.6 million bpd," PVM's Stephen Brennock wrote.

Sustaining that level, however, would depend on all of Libya's facilities, not just Sharara and El-Feel.

Libyan oil production has been fluid since the end of the era of Moammar Gadhafi. Production averaged 470,000 bpd in 2014 before slowing to a trickle. If NOC estimates are accurate, however, the new output would the about what OPEC's smallest producer, Gabon averaged for total production in November.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


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


.


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






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

Previous Report
OIL AND GAS
Oil prices decline on production questions
New York (UPI) Dec 19, 2016
Crude oil prices drifted lower in early Monday trading as questions lingered over whether or not parties to an OPEC agreement were playing ball. Members of the Organization of Petroleum Exporting Countries in late November agreed to cap production at 32.5 million barrels per day starting in January. Meeting that level would require cuts in output from members and non-member states. ... read more


OIL AND GAS
Russia to face strong competition from China in space launch market

Vega And Gokturk-1A are present for next Arianespace lightweight mission

Antares Rides Again

Four Galileo satellites are "topped off" for Arianespace's milestone Ariane 5 launch from the Spaceport

OIL AND GAS
All eyes on Trump over Mars

Opportunity performs several drives to ancient gully

Full go-ahead for building ExoMars 2020

Skimming an alien atmosphere

OIL AND GAS
Lunar sonic booms

India Inc joins hands to bid for moon mission

TeamIndus signs contract with ISRO for lunar mission

Moonwalker Buzz Aldrin stable after South Pole health scare

OIL AND GAS
Juno Captures Jupiter 'Pearl'

Juno Mission Prepares for December 11 Jupiter Flyby

Research Offers Clues About the Timing of Jupiter's Formation

New Perspective on How Pluto's "Icy Heart" Came to Be

OIL AND GAS
New species found near ocean floor hot springs

Carbonaceous chondrites shed light on the origins of life in the universe

Atlas of the RNA universe takes shape

Winds of rubies and sapphires strike the sky of giant planet

OIL AND GAS
Ultra-Cold Storage - Liquid Hydrogen may be Fuel of the Future

Technical glitch postpones NASA satellite launch

After glitch, NASA satellite launch set for Wednesday

China develops non-toxic propellant for orbiting satellites

OIL AND GAS
Chinese missile giant seeks 20% of a satellite market

China-made satellites in high demand

Space exploration plans unveiled

China launches 4th data relay satellite

OIL AND GAS
Rosetta's last words: science descending to a comet

Ceres: Water ice in eternal polar night

Where is the Ice on Ceres

NASA mission to search for rare asteroids









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.