• 4 minutes End of Sanction Waivers
  • 8 minutes Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 14 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 5 hours Saudi Arabia Says To Coordinate With Other Producers To Ensure Adequate Oil Supply
  • 8 hours Alliances: Iran And Pakistan To Form Joint Rapid Reaction Force At Border
  • 2 hours Climate Change Protests
  • 21 mins Gas Flaring
  • 2 hours Overheating the Earth: High Temperatures Shortened Alaska’s Winter Weather
  • 4 hours US Military Spends at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 2 hours China To Promote Using Wind Energy To Power Heating
  • 2 hours Populist Surge Coming in Europe's May Election
  • 30 mins Mueller Report Brings Into Focus Trump's Attempts to Interfere in the Special Counsel Investigation
  • 13 hours "Undeniable" Shale Slowdown?
  • 16 hours Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 8 hours Don't Climb Onto the $80+ Oil Price Greed Roller Coaster, Please.
Alt Text

Shell Ventures Into China’s Shale Oil

Oil supermajor Shell has signed…

Alt Text

Is This The End Of The OPEC Deal?

Oil prices dipped on Thursday…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Payment Delays Could Jeopardize Libya’s Oil Production

Delays in budget payments to the National Oil Corporation of Libya could threaten the country’s oil production, NOC’s chairman Mustafa Sanalla said in a statement. “The entire sector is suffering from these problems because of delays in the finance ministry disbursing budgets to the corporation for this year,” the statement read.

Libya’s oil production averaged more than 1 million bpd in January, for the first time topping the million-bpd-mark for a full month since July 2013, data provider Genscape estimated earlier this month.

Last month Libya produced 1.083 million bpd of crude oil, and 1.133 million of total liquids, Genscape said, adding that its oil production monitoring showed that oil fields in Libya appeared to operate relatively consistently in January, without steep, significant dips below the average production levels due to weather or pipeline attacks.

While this is still well below the 1.6 million bpd the North African country produced before the civil war that toppled Muammar Gadaffi, it is substantially more than the 200,000 bpd it pumped in 2016.

Production outages are still plaguing the industry as the political situation in the country remains highly volatile with various militant factions warring amongst themselves and sabotaging oil infrastructure as a means of making a political point.

These are unlikely to cease anytime soon, according to BMI Research, which recently warned that Nigeria and Libya are at a high risk of oil industry disruption because of upcoming elections.

The research firm’s analysts believe the Libyan elections, tentatively planned for this year, could be delayed until 2019, so the risk of disruptions to oil production will be particularly heightened towards the end of 2018, as “militant factions across the country will need to align support with their favoured presidential candidate and will likely turn to disrupting oil infrastructure to gain leverage,” the analysts told Rigzone.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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