Economy

Oil prices jumped on Tuesday after the National Oil Corporation (NOC) announced force majeure at Hariga and Zuetina oil ports. Brent crude was up 41 cents from closing at $ 77.71 a barrel, while the WTI rose 57 cents to $ 74.51 a barrel, according to Reuters.   On Monday, …

Libya’s production of crude oil fell to between 600 and 700 thousand barrels per day after the clashes that broke out in the ports of Ras Lanuf and Es Sidra, a source from the National Oil Corporation (NOC) said on Wednesday. According to Reuters, the source said the NOC is …

Ras Lanuf oil and gas processing corporation announced on Wednesday that Harouge oil company storage tank is out of danger. The company said on its official page, the weather and wind direction helped to keep the fire away from the tanks 1 and 3 adjacent to the burning tank. The …

British Ambassador to Libya, Frank Baker described on Wednesday the clashes in the oil crescent area as “terrorist”, stressing that his country will deal with it in a “serious” manner. In a meeting with the chairman of the National Oil Corporation (NOC), Mustafa Sanallah, Baker said Britain is “strongly opposed” …

The Government of National Accord (GNA) Finance ministry denounced the armed attacks on the oil crescent area, describing them as “terrorist.” The ministry said in a statement on Sunday, the head of the National Oil Corporation (NOC) said the losses caused by the attack, estimated at $ 880 million a …

An official at the National Oil Corporation (NOC) said on Monday the situation in Harouge reservoir is critical and catastrophic. The official, who asked not to be named, said in a statement to ArraedLG, the NOC had lost oil reservoirs 2, 12, and 400,000 barrels of crude oil, which caused …

The National Oil Corporation (NOC) evacuated on Thursday staff from the Ras Lanuf and Es Sidra ports for safety reasons following armed clashes in the region. A source from the NOC, who preferred not to be named, said the losses of oil production after the clashes exceeded 240 thousand barrels, …

Algerian Energy Minister Mustafa Guitouni said his country will export 3,000 megawatts of power to Libya in the coming years. According to the Algerian news agency, Guitouni said on Sunday, work is currently underway to complete and strengthen the transfer of this energy between Algeria, Libya and Tunisia, pointing out …

The National Oil Corporation (NOC) welcomed on Saturday the Security Council’s decision to impose sanctions on six people for involvement in smuggling and human trafficking. The NOC chairman, Mustafa Sanallah praised the decision and the efforts of the international community to bring individuals “beneficiaries” of smuggling to justice. According to …

The General Electricity Company of Libya (GECOL) announced the entry of the third gas unit in Al-Sareer gas generation station to the public network with a capacity of 220 MW. The company said on its official page on Monday, the entry of the third unit comes after the end of …