Monday, June 30, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Libya

Libya Shuts 4 Oil Ports Due to Bad Weather

December 5, 2021
Share on FacebookShare on Twitter

The media office of the National Oil Corporation NOC) announced that there are four oil ports that have been closed since Friday evening due to bad weather.

The office added that the closures did not have any impact on production, and that it is expected to reopen on Wednesday, depending on weather conditions.

The NOC media office stated that the ports that were closed due to the bad weather are Ras Lanuf and Zueitina in eastern Libya, and Mellitah and Zawiya in the West.

Notably, Libya’s revenues from oil sales during October equaled about $2 billion, Libya’s NOC announced on Wednesday.

“The net oil sales revenues for October, amounted to $1,907,660,046.91, distributed over sales of crude oil, gas, oil condensates and petrochemicals,” the NOC noted.

The corporation pointed out in that the net revenues of crude oil amounted to $1,853,176,198.98, while revenues of gas and condensates amounted to $34,318,773.80.

“Net revenues of oil products amounted to $18,186,629.55, and petrochemicals revenues amounted to $1,978,444.58. Revenues in euros amounted to 3,935,191.04 euros,” the NOC added.

Libyan Deputy Oil Minister, Refaat Al-Abbar, said that Libya plans to produce more than 2 million barrels per day in 2022, and 4 million barrels per day in 2025.

During an interview with Al-Sharq Al-Awast newspaper, Al-Abbar said Libya is seeking to restore its shares in the global oil and gas markets, as the oil rich country produces about 1.215 million barrels per day now.

He added that, “the Oil Ministry is working with the NOC to develop the productivity of the fields, and periodically develop plans to return the damaged fields to work and maintain the stability of exports.”

He noted that political disputes and the delay in approving budgets for the oil sector caused a loss of billions of dinars. However, he considered the funding problem as “the biggest challenge facing the Libyan oil sector,” saying “these targets need spending about $12 billion in development, maintenance and rehabilitation operations.”

“We are currently seeking to enable reliability and protect Libya’s shares in the global oil market and to benefit from the price recovery… And that is after we lost large sales shares in previous years, which deprived Libya of huge revenues,” Al-Abbar said.

Tags: libyaLibyan WeathernocOil Ports
Next Post

72 Libyan MPs Want Elections Chief to Appear for Questioning

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Libya to Enforce ID Registration for All Foreign Nationals

Italy Warns of New Security Threat from RSF Presence in Southern Libya

Libyan PM Rejects Greek Objections to Libya–Turkey Maritime Deal

132 Licensed Exchange Firms to Launch Soon in Libya

UK Denies Embassy Convoy Was Targeted in Armed Attack in Libya

Libyans Demand UN Mission Exit Over Political Paralysis

EDITOR PICKS

Italy Warns of New Security Threat from RSF Presence in Southern Libya

UN Libya Launches 250 Projects for Development in 2024

Libyan Suspect Faces Lockerbie Charges After DNA Discovery

132 Licensed Exchange Firms to Launch Soon in Libya

ICC Accuses Italy of Violating International Law Over Libyan Suspect

Libyans Demand UN Mission Exit Over Political Paralysis

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR