• 3 minutes Shale Oil Fiasco
  • 7 minutes "Leaked" request by some Democrats that they were asking Nancy to coordinate censure instead of impeachment.
  • 12 minutes Trump's China Strategy: Death By a Thousand Paper Cuts
  • 16 minutes Global Debt Worries. How Will This End?
  • 4 mins americavchina.com
  • 6 mins Greta named Time Magazine "Person of the Year"
  • 16 mins DUMB IT DOWN-IMPEACHMENT
  • 4 hours Emissions Soar as Flaring Frenzy Breaks New Records
  • 17 hours Tories on course to win majority
  • 18 hours Winter Storms Hitting Continental US
  • 9 hours Aramco Raises $25.6B in World's Biggest IPO
  • 2 hours POTUS Trump signs the HK Bill
  • 16 hours WTO is effectively neutered. Trump *already* won the trade war against China and WTO is helpless to intervene
  • 21 hours 2nd Annual Great Oil Price Prediction Challenge of 2019

Identifying Libya’s Oil Saboteurs

pipeline

Libyan Oil Sabotage: The Next Phase

Nearly one-third of Libya’s oil output was taken offline for three days this week after a pipeline was sabotaged from the giant Al-Sharara field, which produces 315,000 bpd. On Monday, production resumed, but not before Libya lost 290,000 bpd for 48 hours. That’s about $19 million a day in losses, confirmed by our sources at the Tripoli-based National Oil Company (NOC). The NOC is not keen to discuss publicly what the cause of the shutdown was, or who was behind the sabotage. Instead, they refer to it publicly only as a “criminal act”. The unwillingness to discuss the nature of the sabotage suggests that it may have been perpetrated by Islamic radical forces. What this means is this: It’s always been General Haftar (presently trying to seize Tripoli from the GNA) who fought off ISIS-related forces from the country’s oil facilities. The GNA isn’t keen to highlight this at a time when they are bringing on external parties to help fight back Haftar’s offensive on the capital city. The Sharara oilfield is only functioning effectively because of Haftar, who has rescued it from armed groups several times already.

In the last week of June, the NOC released its oil revenue reports, showing $1.7 billion for June. That’s up from $580 million in May, which was plagued by electricity cuts to oil facilities that had caused a loss of production of approximately 70,000 bpd.

In the…




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