Friday, June 27, 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

Oil Exports Resume in Libya After Production Restored

July 20, 2022
Share on FacebookShare on Twitter

On Monday, Libya’s National Oil Corporation said that preparations are now underway to export five tankers of crude oil, after the lifting of the force majeure on terminals and oil fields.

The NOC said in a statement that a tanker is scheduled to arrive at the terminal of Zueitina, to load one million barrels of Abutifal crude. Another tanker will arrive at Sedra terminal, between 19-20 July. In addition, two tankers will arrive at Ras Lanuf terminal on 20-21 July.

“There is also a tanker is scheduled to load 600,000 barrels of Brega crude during this period,” it added.

The NOC explained that these arrangements have been made in order to resume operations.

On Saturday, the NOC’s newly appointed Chairman Mustafa Bengadara announced the lifting of the force majeure on all Libyan fields.

Earlier, he told Bloomberg that “operations will run smoothly, and that the NOC will receive a budget of 35 billion Libyan dinars ($7.2 billion dollars) needed to upgrade oil facilities, and the salaries of employees will be raised.” The NOC’s previous Board of Directors will be treated “with all respect and appreciation” and won’t be changed in the current period, he added.

“They will be given a chance, but they have to work efficiently and fairly without personal loyalties,” he said.

He affirmed that the NOC will also “abide by all contracts with partners and will seek to develop our relationship with them, in order to increase production.”

“The Corporation aims to boost output to 3 million barrels a day within two years — if it can get enough government funding to develop fields and export terminals, and maintain infrastructure,” he said.

Tags: libyaLibyan OilnocOil Exports
Next Post

Libya’s Coastal Road Blocked by Gunmen

Please login to join discussion

POPULAR CATEGORIES

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

MUST READ

Libyan Security Forces Arrest 77 Drug Dealers

Greece Accuses Libya & Turkey of Breaching International Law

UK Denies Embassy Convoy Was Targeted in Armed Attack in Libya

Libya Sends Troops to Italy for Special Operations Training

Libya Becomes Turkey’s Third Largest Trade Partner in Africa

Libya Signs 98 Cooperation Deals with Italian Companies in Benghazi

EDITOR PICKS

Libya Signs 98 Cooperation Deals with Italian Companies in Benghazi

Libya & Russia Launch Economic Forum to Expand Strategic Cooperation

UK Denies Embassy Convoy Was Targeted in Armed Attack in Libya

Libyan Security Forces Arrest 77 Drug Dealers

European Council Warns Against Unilateral Maritime Agreements in Libya

Greece Accuses Libya & Turkey of Breaching International Law

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

© 2024 LR

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

© 2024 LR