• 6 minutes Trump vs. MbS
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes WTI @ $75.75, headed for $64 - 67
  • 3 hours EU to Splash Billions on Battery Factories
  • 5 hours US top CEO's are spending their own money on the midterm elections
  • 3 hours The Dirt on Clean Electric Cars
  • 13 hours Petrol versus EV
  • 7 hours OPEC Is Struggling To Deliver On Increased Output Pledge
  • 2 hours Satellite Moons to Replace Streetlamps?!
  • 5 hours The Balkans Are Coming Apart at the Seams Again
  • 10 hours 10 Incredible Facts about U.S. LNG
  • 3 hours Uber IPO Proposals Value Company at $120 Billion
  • 19 hours E-mopeds
  • 5 hours A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 9 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 1 day These are the world’s most competitive economies: US No. 1
Alt Text

The Battle For Libyan Oil Is Heating Up

Libya's fragile political balance could…

Alt Text

A Storm Is Brewing In The Southern Gas Corridor

While Russia looks to circumvent…

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

Is ISIS About To Attack Libyan Oil?

conflict

Islamic State forces in Libya may be planning an attack on the country’s so-called Oil Crescent, where its export terminals and many fields are located, a senior official from the U.S. Africa Command told Asharq Al-Awsat.

The daily quoted AFRICOM spokeswoman Robyn Mack as saying, “At the moment, we believe that the organization (ISIS-Libya) is likely to give priority to the restructuring of security forces and infrastructure, and to launch strikes, which may include targets in the Libyan oil crescent.”

Since September last year, the Oil Crescent has been under the control of the Libyan National Army, which is affiliated with the eastern government but working with the National Oil Corporation to protect the area from militant groups. An LNA general confirmed the AFRICOM information, saying that IS forces have made more than one attempt to enter the heart of Libya’s oil industry, but have thus far been repelled by the LNA.

On December 26, an explosion on the Zaggut to Es Sider oil pipeline in eastern Libya occurred, as confirmed by Libya’s National Oil Corporation. The pipeline transports crude oil to Libya’s largest oil export terminal, Es Sider.

Later that week, the LNA accused the Benghazi Defense Brigades—a group it has been fighting for quite a while—of being behind the attack Related: Iranian Crisis Could Send Oil To $100

Although the pipeline operator, Waha Oil Company, immediately diverted production to another pipeline, NOC was still expecting production losses of 70,000 bpd to 100,000 bpd, Libya’s state oil corporation said on the day of the explosion. The news of the Libyan oil pipeline blast sent WTI briefly above $60 a barrel on Wednesday.

Although Libya has agreed to cap its 2018 oil production at the 2017 levels as part of its contribution to the OPEC production cut pact, the country has been struggling to raise its production significantly above 1 million bpd—the level it reached this summer for the first time since 2013.

By Irina Slav for OIlprice.com

More Top Reads From Oilprice.com:


x


Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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