• 3 minutes Why NG falling n crude up?
  • 7 minutes Tesla Battery Day (announcements on technology)
  • 10 minutes America Could Go Fully Electric Right Now
  • 5 hours Kalifornistan, CO2, clueless politicians, climate hustle
  • 1 min Presidential debate will address taxes. Personal and Corp, including International Oil companies that pay little U.S. Income tax using Transfer Pricing.
  • 1 day JP Morgan Christyan Malek, report this Summer .. . We are at beginning of oil Super Cycle and will see $190 bbl Brent by 2025. LOL
  • 11 hours Something wicked this way comes
  • 1 hour Ilhan Omar connected Ballot Harvester in cash-for-ballots scheme
  • 1 day Jake Gardner from Omaha wrongly charged with murder while protecting his business from rioters. . . . . . Kills himself
  • 1 day Ten Years of Plunging Solar Prices
  • 3 days Amount of Oil Usage in the United States

Libyan Oil Industry Stable Despite ISIS Return

Libya’s estimate for its April oil revenues came in as one of its best in a long time, suggesting that the stalemate between the GNA and LNA is yet to impact oil production. It’s not all good news for Libya though, as ISIS is now taking advantage of the security vacuum that has been created by Haftar’s forces focusing on Tripoli.

Regarding oil revenues, the NOC reported $1.87 billion for April due to a rise in global crude oil prices and a busy loading scheduled at the end of March. This loading schedule resulted in cargo receipts both arriving and clearing in April’s revenue statement. The NOC reported a monthly increase of approximately $340 million (+22%).

Our team on the ground has obtained the official NOC documents:

Regarding security, the market should be concerned about ISIS, which launched an attack on Saturday at a checkpoint manned by Haftar’s LNA forces near a major oilfield in the south of the country. The oilfield – Zellah - is only 20 kilometers from the checkpoint in question, and is a clear signal of an intended move on the field. In the attack, our sources on the ground say that two LNA checkpoint guards were beheaded, and six others kidnapped.

The oilfield is owned by the Zueitina oil company.

In terms of the conflict for Tripoli, there are indications that it will be a lengthy one given external meddling. Most recently, that appears to have resulted in a shipment of weapons from Turkey…




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