• 4 minutes Why Trump will win the wall fight
  • 7 minutes Tension On The Edge: Pakistan Urges U.N. To Intervene Over Kashmir Tension With India
  • 12 minutes Maduro Asks OPEC For Help Against U.S. Sanctions
  • 16 minutes Washington Eyes Crackdown On OPEC
  • 5 hours Climate Change: A Summer of Storms and Smog Is Coming
  • 3 hours Itt looks like natural gas may be at its lowest price ever.
  • 5 hours America’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash
  • 17 hours North Korea's Kim To Travel To Vietnam By Train, Summit At Government Guesthouse
  • 19 hours Oil imports by countries
  • 19 hours AI Will Eliminate Call Center Jobs
  • 23 hours NZ Oil, Gas Ban Could Cost $30 Bln
  • 8 hours US-backed coup in Venezuela not so smooth
  • 2 hours Amazon’s Exit Could Scare Off Tech Companies From New York
  • 1 day Ayn Rand Was Right
  • 1 day Solar and Wind Will Not "Save" the Climate
  • 1 day Indian Oil Signs First Annual Deal For U.S. OilIndian Oil Signs First Annual Deal For U.S. Oil
  • 6 hours Some Good News on Climate Change Maybe
A Worrying Trend For International Oil Giants

A Worrying Trend For International Oil Giants

Fitch has awarded Abu Dhabi’s…

Amazon To Invest In Electric Pickups, SUVs

Amazon To Invest In Electric Pickups, SUVs

Amazon was inspired by electric…

Eastern Forces Kill Senior Al Qaeda Commander In Southern Libya

Libya pickup

Eastern Libyan forces, who launched earlier this week a military operation in Libya’s south to fight extremists and secure oil facilities, have killed a senior operative for Al Qaeda, a spokesman for the eastern Libyan forces said on Friday.

The Libyan National Army (LNA)—based in the eastern city of Benghazi and led by eastern strongman General Khalifa Haftar—killed Abu Talha al-Libi, a commander in Al Qaeda in the Islamic Maghreb (AQIM) and two other militants, including one Egyptian, Reuters quoted LNA spokesman Ahmed Mismari as saying on Friday.

Libya’s southwest, where the senior Al Qaeda commander was killed, is being used by extremists to launch attacks in the country and in the neighboring countries in North Africa. The same area is also home to the largest oil field in Libya, Sharara, which has been closed since early December, due to security breaches by armed groups.

On Tuesday, the LNA said that they had started a military operation to secure oil sites and facilities in Libya’s south, where Sharara is located.

Sharara’s shutdown will result in daily production losses of 315,000 bpd, plus a loss of 73,000 bpd at the El Feel oil field because it depends on Sharara for electricity supply, Libya’s internationally recognized National Oil Corporation (NOC) said last month, noting that the “combined daily cost to the Libyan economy of this unnecessary shutdown” is US$32.5 million.

Related: Low Oil Prices Are Not The Only Problem For The Permian

According to NOC, “Oil production will now only restart at Sharara after alternative security arrangements are put in place.”

Libya’s crude oil production and exports have been severely disrupted since early December due to port closures courtesy of bad weather as well as security incidents and issues at Sharara.

As a result, Libya’s crude oil production in December plunged by 172,000 bpd from November—to 928,000 bpd from 1.1 million bpd, according to OPEC’s secondary sources in the cartel’s Monthly Oil Market Report released on Thursday. The drop in Libya’s oil production last month was the second steepest decline among OPEC producers after Saudi Arabia, which cut production by 468,000 bpd from November to 10.553 million bpd in December.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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