• 3 minutes Biden Seeks $2 Trillion Clean Energy And Infrastructure Spending Boost
  • 5 minutes While U.S. Pipelines Are Under Siege, China Streamlines Its Oil and Gas Network
  • 8 minutes Gazprom fails to exempt Nord Stream-2 from EU market rules
  • 14 hours Trumpist lies about coronavirus too bad for Facebook - BANNED!
  • 1 day The Truth about Chinese and Indian Engineering
  • 42 mins Why Oil could hit $100
  • 21 mins China's impending economic meltdown
  • 15 hours The World is Facing a Solar Panel Waste Problem
  • 2 days The Core Issue Of US Chaos..Finally disclosed
  • 8 hours Pompeo upsets China; oil & gas prices to fall
  • 5 hours Renewables Overtake Coal, But Lag Far Behind Oil And Natural Gas
  • 4 hours Open letter from Politico about US-russian relations
  • 3 hours Brent above $45. Holding breath for $50??
  • 1 day Sell Natural Gas Benefits to Grow the Market!
  • 2 days Rational analysis of CV19 from Harvard Medical School
  • 1 day Trump Suggests Delaying Election Amid Fraud Claims
  • 2 days Russia Trying To Steal COVID-19 Vaccine Data, Say UK, U.S. and Canada
Demand For Offshore Oil Rigs To Return In 2022

Demand For Offshore Oil Rigs To Return In 2022

Demand for offshore rigs will…

Massive Losses Force Glencore To Slash Dividends

Massive Losses Force Glencore To Slash Dividends

The coronavirus-fueled demand destruction of…

Editorial Dept

Editorial Dept

More Info

Premium Content

The Fate Of Libyan Oil Hangs In The Balance

Haftar Waiting Out Another Turkish Misstep in Libya

Last week, international media said that Libyan oil production had dropped to just under 164,000 bpd. Less than a week later, on Monday, Feb 17th, the Libyan National Oil Company (NOC) said that oil production was down to just under 136,000 bpd. That represents a financial loss of over $1.6 billion.  

The NOC is still supplying the Central and Eastern regions with enough to meet their transport and domestic needs, though storage facilities in and around Tripoli are facing supply shortages. 

It is not a sustainable situation, even as the media claim that both sides in the conflict are in it for the long haul. Money will dictate otherwise.

The tension on the ground this week was palpable, and more confusing than ever as Libyans celebrated the revolution that overthrew Ghaddafi on February 17 eight years ago. After eight years of chaos hijacked by various militias, no one knows exactly what they’re celebrating. 

It will be important to watch what Turkey does next because it’s in a tight spot and has overstepped in multiple venues. It’s being overrun by the Syrian Army and the Russians in Syria, and it’s sent Syrian mercenaries (with false promises) to fight in Libya. They are not likely to represent a loyal mercenary force when they realize they won’t get what they want back at home in Syria. Again, that is leverage for Haftar in Tripoli, where he’s…





Leave a comment

Leave a comment




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