• 4 hours British Utility Companies Brace For Major Reforms
  • 8 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 10 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 11 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 12 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 13 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 14 hours Rosneft Signs $400M Deal With Kurdistan
  • 16 hours Kinder Morgan Warns About Trans Mountain Delays
  • 23 hours India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 1 day Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 1 day Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 2 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 2 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 2 days China To Take 5% Of Rosneft’s Output In New Deal
  • 2 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 3 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 3 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 6 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 7 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 7 days China Set To Continue Crude Oil Buying Spree, IEA Says
Alt Text

Is The Bakken Profitable At $50 Oil?

The Bakken remains the second…

Alt Text

Who Are The Biggest Buyers Of U.S. Oil?

Exports of U.S. petroleum and…

Alt Text

Europe Stands Divided On Gazprom’s Nord Stream 2 Pipeline

Gazprom’s Nord Stream 2 megaproject…

Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Libya’s Largest Oil Field Shuttered By Protests After Oil Worker Dies

Libya

A new workers’ protest in Libya has shut down the country’s largest oilfield, creating yet another hurdle for a war-torn country as it struggles to rebuild its oil output.

The demonstrators shuttered the 270,000-barrel per day Sharara oilfield on Wednesday, a source at the site told World Oil. The unrest began when one worker died at the field, another source added.

Libyan output had reached 827,000 bpd before Sharara halted production today. Libya and Nigeria are both exempt from the Organization of Petroleum Exporting Countries (OPEC) deal to reduce production by 1.2 million barrels per day through March 2018.

An NOC spokesman said the field will probably not declare a force majeure, as the current halt is temporary.

Libya’s oil production has been unstable since the overthrow of dictator Muammar Gaddafi in 2011 as part of the regional Arab Spring movement. A civil war broke out between factions vying for power, preventing a restart in oil export activities. The past few months of relative stability has allowed output to increase incrementally.

The current production rate is still far from the 1.6 million barrels the North African producer boasted before the 2011 civil war, but significantly higher than what it produced last year. For this year, the NOC plans to bring the total up to 1.32 million bpd, up from an earlier target of 1.1 million bpd.

OPEC-member Nigeria and non-OPEC producer United States are both increasing output as well, further flooding global oil markets. Lagos had been dealing with attacks by groups like the Niger Delta Avengers (NDA) and other affiliates, but the incidents have slowed in recent months, allowing the Forcados pipeline to be repaired and oil output to recover. Shale producers in the U.S. are taking advantage of marginally higher prices to bring dozens of oil rigs in the Permian Basin online, despite warnings from senior Saudi officials who are desperate to see higher barrel prices before the Aramco IPO next year.

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News