Oil
16 articles
Aoun Says Billions Vanished From Libya's Oil Sector
Mohamed Aoun alleges that billions in oil revenues were squandered or looted over 15 years, a claim not independently established in the available material. Recent shutdowns caused losses exceeding 942,000 barrels.
Egypt Turns to Mature Fields to Rebuild Energy Supply
In June 2026, Egypt's gas consumption exceeded production by 77.67%, while oil consumption was about 24.88% higher than output. Brownfield upgrades and near-field tiebacks could ease the shortfall, but the results depend on execution and a gradual upstream recovery.
Libya reopens oil pipeline after $95 million disruption
Libya's National Oil Corporation says pumping from the Sharara field resumed after a five-day shutdown. The disruption cut production by 942,376 barrels and caused about $95 million in reported losses.
Azerbaijan crude oil shipments to Tunisia surge past four hundred thousand tons
Azerbaijan's crude oil exports to Tunisia jumped to 429,376.15 tons from January to August 2026, with shipment values up 2.6 times year-on-year. This trade now makes up nearly 3 percent of Azerbaijan's total oil exports.
Libyan oil production back online after pipeline briefly shut by security forces
Libya's National Oil Corporation (NOC) quickly restored oil output after Petroleum Facilities Guard members blocked the Hamada-Zawia pipeline. The stoppage, which hit several western fields, shows how fragile the region's energy infrastructure remains.
Libya secures record oil premium in million-barrel sale to India
Libya has struck a deal to supply one million barrels of Sirte/Missla crude to Indian Oil Corporation at a premium of USD 23 per barrel over Brent-the highest since the Iran war-highlighting changing patterns in global oil sourcing.
Libya secures record oil premium in one million barrel deal with India
Libya has sold one million barrels of Sirte/Missla blend crude to Indian Oil Corp at a premium of US$ 23 per barrel above Brent, marking the highest premium since the Iran war and highlighting surging demand for Libyan heavy crude in global markets.
Libya restores oil output after temporary field shutdown
Libya's oil sector is back to normal after a brief shutdown at several fields, according to the National Oil Corporation. Production recovered quickly, highlighting both the sector's resilience and its ongoing security risks.
Oil prices surge as Saudi pipeline and Libyan fields halt flows
A sudden halt at Saudi Arabia's East-West pipeline and shutdowns at Libyan oil fields have sent oil prices sharply higher, exposing the market's vulnerability to regional supply shocks and escalating geopolitical risks.
Libyan oil supply faces shutdown threat as NOC warns of force majeure
Libya's National Oil Corporation has halted production at key fields after a pipeline valve was forcibly closed by the Petroleum Facilities Guard. With further shutdowns threatened, the NOC is preparing to invoke force majeure, risking a new blow to Libya's oil-dependent economy.
Libya invites Russian energy firms to run oil refineries and exports
Libya is seeking Russian help to rebuild its oil industry, offering Russian companies direct control over refineries and exports as the country struggles with fuel shortages and political divisions.
Libya oil and gas revenues hit fifteen billion dollars in eight months
Libya's Ministry of Oil and Gas has disclosed that the country earned 15.2 billion dollars from oil and gas between January and August 2026. The figures reveal both the sector's dominance in state finances and the urgent need for infrastructure upgrades.
Harouge Oil Operations lifts output with new Amal Field well
Harouge Oil Operations has brought its B79A replacement well online at the Amal Field in Libya, adding 2000 barrels per day to production as part of a targeted 2026 capacity expansion. The move signals renewed momentum in Libya's oil sector.
Kulevi Oil Refinery Receives First Libyan Oil After Russian Supply Halt
Georgia's Kulevi oil refinery has received its first shipment of Libyan oil after halting Russian crude imports in response to EU sanctions. The move marks a shift in supply strategy, with the refinery now sourcing oil from Kazakhstan and Libya.
Oil Prices Fall Back as Brent and WTI Head for Weekly Losses
Oil prices declined on Friday, 28 August 2026, erasing part of the previous session's gains. Both Brent and WTI benchmarks are set to close the week lower, reflecting ongoing volatility and concerns over global demand.
Egypt contains oil spill after South Sinai pipeline leak
Egyptian authorities have contained a crude oil spill stretching three kilometres off Ras Badran near Abu Redis in South Sinai, after identifying and repairing a pipeline leak. Environmental monitoring and legal action are ongoing to assess damage and accountability.