Archive for the ‘Libya’ Category

OPEC should cut oil output: Libya

They "need to reach an agreement to bring down the production levels by at least 800,000 barrels a day, especially now that an agreement has been reached with Iran which is expected to increase its production," he said.

A framework deal announced last week to curb Iran's nuclear work could eventually allow Tehran to boost oil exports, which have been cut by almost half since 2012 due to Western sanctions.

Four years after the ousting of leader Muammar Gaddafi, Libya is struggling with two rival governments. Kamal represents Libya on OPEC's board of governors, a body that influences but does not decide OPEC policy.

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When the producer group last met in November, Libya was among member countries calling for a cut in production.

OPEC meets again on June 5 to set policy. Although they did not oppose the group's no-cut decision of last year, other non-Gulf OPEC members such as Venezuela and Iran have expressed misgivings about it and sought supply reductions.

A group of 18 African oil producersmany of which are not OPEC membersis lobbying for output curbs to boost prices that it says have fallen to levels that threaten to spark social unrest. But without support from Saudi Arabia and the other Gulf OPEC members, a rethink is unlikely. Saudi Arabia has increased production to a record high and Kuwait has said OPEC will not change policy at the June meeting.

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OPEC should cut oil output: Libya

libya koreuo naru – Video


libya koreuo naru

By: petros berakhi

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libya koreuo naru - Video

Aref Nayed celebrates the victory of Al Ahly Libya and facilities improvements – Video


Aref Nayed celebrates the victory of Al Ahly Libya and facilities improvements
The Chairman of the Al Ahly Libya, Dr. Aref Ali Nayed, congratulates the Libyan people on qualifying to the next stage of the Africa #39;s Champions League and announces the completion of the first...

By: Aref Nayed

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Aref Nayed celebrates the victory of Al Ahly Libya and facilities improvements - Video

Aref Nayed views the February 17th Revolution as an opportunity for youth to redefine Libyas future – Video


Aref Nayed views the February 17th Revolution as an opportunity for youth to redefine Libyas future
Aref Nayed views addressing issues facing Libya #39;s youth as critical to ensuring reconciliation and responding to the challenges that Libya faces. Access to education, healthcare and social...

By: Aref Nayed

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Aref Nayed views the February 17th Revolution as an opportunity for youth to redefine Libyas future - Video

Libya expects more oil production soon, report

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The Libya Herald reported Sunday operations of the Abu Attifel oil field, last producing around 70,000 barrels of oil per day, may restart soon. The report said Italian energy company Eni stopped operations at the field "in August 2013 following the occupation and closure of oil export terminals by secessionist protestors."

More than 1,000 demonstrators descended on the facility in late 2013 demanding jobs.

"It is not yet clear what deal, if any, has been reached between the locals and the Libyan National Oil Co., which will allow Abu Attifel to restart production," the Herald reported.

Before NATO forces intervened in Libyan civil war in 2011, the country was producing more than 1 million bpd. The Organization of Petroleum Exporting Countries in its latest market report said production from member-state Libya was around 300,000 bpd.

Libya has been unable to coordinate political efforts across the wide range of groups vying for more power since civil war ended. In late March, the U.N. Support Mission in Libya said it welcomed cease-fire agreements and the withdrawal of fighters from oil production areas.

"[UNSMIL] has urged the parties to the conflict to cease all military hostilities and focus instead on their common enemy, the terrorist groups which are determined to expand their areas of influence," the mission said.

The group calling itself the Islamic State has gained influence in war-torn Libya.

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Libya expects more oil production soon, report