• 3 minutes China has *Already* Lost the Trade War. Meantime, the U.S. Might Sanction China’s Largest Oil Company
  • 7 minutes Saudi and UAE pressure to get US support for Oil quotas is reportedly on..
  • 11 minutes China devalues currency to lower prices to address new tariffs. But doesn't help. Here is why. . . .
  • 15 minutes What is your current outlook as a day trader for WTI
  • 59 mins Domino Effect: Rashida Tlaib Rejects Israel's Offer For 'Humanitarian' Visit To West Bank
  • 1 hour In The Bright Of New Administration Rules: Immigrants as Economic Contributors
  • 12 hours Trump vs. Xi Trade Battle, Running Commentary from Conservative Tree House
  • 3 hours Continental Resource's Hamm (Trump Buddy) wants shale to cut production.Can't compete with peers. Stock will drop in half again.
  • 19 hours Gretta Thunbergs zero carbon voyage carbon foot print of carbon fibre manufacture
  • 11 hours Movie Script: Epstein Guards Suspected Of Falsifying Logs
  • 1 day Will Uncle Sam Step Up and Cut Production
  • 12 hours US Petroleum Demand Strongest Since 2007
  • 1 day NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
  • 2 days Why Oil is Falling (including conspiracy theories and other fun stuff)
  • 2 days Significant: Boeing Delays Delivery Of Ultra-Long-Range Version Of 777X
  • 52 days To be(lieve) or Not To be(lieve): U.S. Treasury Secretary Says U.S.-China Trade Deal Is 90% Done
  • 7 mins Strait Of Hormuz As a Breakpoint: Germany Not Taking Part In U.S. Naval Mission
Alt Text

The End-Game For Libya’s Oil Crescent

As Libya’s two opposing sides…

Alt Text

President Of African Oil Producer Sudan Toppled In Military Coup

Omar al-Bashir, long-term President of…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Is ISIS About To Attack Libyan Oil?

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:




Download The Free Oilprice App Today

Back to homepage


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play