Oil extended its gains above $52 a barrel as a planned production boost from Libya stalled amid continuing tension in the Opec (Organization of Petroleum Exporting Countries) member exempt from agreed output cuts, said a report.
Libya's prime minister called for a national reconciliation initiative to repair the divisions in a fragmented country reeling from the turbulence that has followed the fall of dictator Muammar Gaddafi.
Fayez Seraj also told R
An oil tanker left the Libyan port of Ras Lanuf for Italy early on Wednesday with the first crude export cargo from the terminal since at least late 2014, boosting hopes of reviving Libya's battered oil output.
The port manage
Oil prices fell more than 1 per cent on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria following interruptions fuelled concerns that the global glut will persist.
Benchmark Brent crude futur
Libya is resuming oil exports from some of its main ports which forces loyal to eastern commander Khalifa Haftar seized in recent days and has lifted related "force majeuere" contractual clauses, the National Oil Corporation (NOC) said
Libya's National Oil Corporation (NOC) said on Tuesday it would immediately start working to resume crude exports from ports seized in recent days by forces loyal to eastern commander Khalifa Haftar.
Welcoming pledges from Haf
Libya's state National Oil Corp is looking to charter a tanker to load 80,000 tonnes of crude oil from its major Ras Lanuf terminal that has been shut since December 2014, sources familiar with the matter said.
Libya's National Oil Corporation (NOC) said on Thursday that rival forces had agreed to let a tanker dock at Zueitina port to load oil and take it to a safe place.
The NOC expressed concern earlier this month after reports of
Libya's plans to increase oil output by five-fold by the end of the year will remain out of reach until the government allocates funds to repair the damage to oil infrastructure, the National Oil Corp's chief told Reuters.