• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 8 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry
Gas Glut? Not for Long.

Gas Glut? Not for Long.

Low prices invariably stimulate stronger…

Iraq Hopes to Expand Economic Relationship With the U.S.

Iraq Hopes to Expand Economic Relationship With the U.S.

Sudani wants to strengthen Baghdad’s…

Operations Resume at Libya’s Oil Facilities Amid Guards Protest

Flows of gas from Libya to Italy and production at Libya’s Wafa field resumed on Monday after being shut down last week by protesting Petroleum Facilities Guard (PFG) forces over non-payment of salaries. 

On Sunday, Libya's interim prime minister Abdulhamid Dbeibah approved a decision to increase salaries for PFG forces, responsible for the security of the country’s oil and gas facilities.  

Last week, the PFG announced the closure of oilfields, valves and pipelines across the country, with various PFG groups coordinating efforts in protest over Dbeibah’s failure to meet their demands. 

One of the key demands was an increase in salaries. The PFG gave the interim prime minister of LIbya’s UN-recognized Government of National Unity (GNU) 10 days to meet demands or face closure of oil facilities. 

The PFG had closed down production at the Zawiya refinery and the Mellitah complex, along with their ports, and shut down the Green Stream pipeline feeding gas to Italy. They also shut down the El-Feel and Al-Wafa fields, and threatened to gradually terminate operations at Libya’s largest oilfield, Sharara. The Wafa field was closed down on Sunday and reopened on Monday. 

Wafa produces up to 45,000 bpd. 

The temporary closure had caused the Libyan dinar to plunge against the U.S. dollar in black market trading to its lowest point in nearly a decade, according to Libyan media reports. 

In 2017, Libya said it was targeting 2.2 million barrels per day of production by 2023. Even though Libya has the largest proven oil reserves in Africa, with oil accounting for almost 100% of government revenues, political instability has hijacked production potential, with rival governments and militias competing for control of the country’s oil wealth.

ADVERTISEMENT

In January, Libyan production was at 1.02 million barrels per day, according to the Platts OPEC Survey from S&P Global. 

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News