Saturday 12 July 2014
 
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libya

Libya oil exports yet to restart from eastern ports

Libya has yet to resume exports from the eastern Ras Lanuf and Es Sider oil ports as the state oil firm waits for the government to notify it on the end of the blockade, a spokesman for the National Oil Corp (NOC) said on Sunday.

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US oil in longest losing streak since 2009

Brent futures held steady above $111 a barrel on Friday on signs of an improving demand outlook, although the benchmark is still set to post its biggest weekly loss since early January as supply worries that have rattled oil markets for weeks re

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Despite Saudi pledge, new oil outage would strain supply

The world's unused spare oil production capacity would struggle to cover for another big outage, industry officials and analysts say, increasing the chance governments may tap strategic reserves should Iraq's southern exports be disrupte

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Turkey in massive evacuation after Libya threat

Turkey has been evacuating hundreds of citizens from Libya after a threat from a renegade general fighting Islamists in the east, Ankara's embassy and airport officials said. On Sunday, retired general Khalifa Haftar called on

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Libya approves overdue budget as oil port reopens

Libya's parliament has approved the overdue 2014 budget worth $47 billion, drawing on reserves to offset a dramatic loss of oil revenue after almost a year of protests at major ports. The North African country is in turmoil as

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Benghazi hit by new fighting, families flee

A renegade Libyan general launched an offensive on Sunday against Islamist militants in the eastern city of Benghazi, prompting dozens of families to flee the port in the latest bout of turmoil to hit the North African oil-producing nation.

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Libya's El Feel oilfield resumes production

Libya's western El Feel oilfield has resumed production after security guards ended a protest at a connecting pipeline, an oil ministry official said on Sunday. Production will reach 80,000 barrels a day within 24 hours, said

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Diplomat's comments on Libya fake says Qatar

Qatar has told Libya that comments attributed to Doha's ambassador denouncing a Libyan court ruling were fake after Tripoli "urgently" requested an explanation, Libya's state news agency Lana said on Saturday. Th

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Libya cabinet starts spending $50bn budget

Libya's government, suffering from dwindling oil revenues, will allow its ministries to begin spending the $50 billion budget it submitted to parliament at the start of the year even though lawmakers have not voted on it. The

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Libya supplying refinery without offshore oil

Libya is still able to supply its 120,000-bpd Zawiya refinery without drawing on oil from two offshore fields, an oil ministry official said on Sunday. On Wednesday, a spokesman for state-owned National Oil Corp (NOC) said Libya m

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