by Daniel J. Graeber
(UPI) Jul 18, 2017
Libya has been called on by the Organization of Petroleum Exporting Countries to share production plans at a summit next week, an oil company director said.
Libya and fellow OPEC member-state Nigeria are exempt from the multilateral agreement to stem production in an effort to offset some of the supply-side strains that last year pushed oil prices below $30 per barrel. Both countries have seen dramatic gains in production since the deal was implemented in January, dampening the impact.
Parties to a committee monitoring the agreement meet next week in St. Petersburg, Russia, to review the impact. Mustafa Sanalla, the head of Libya's National Oil Corp. said OPEC Secretary General Mohammed Barkindo wants to see production plans from Libya at the meeting.
"We will take this opportunity to share with the committee the factors enabling and constraining Libya's production recovery," he said in a statement. "I will consult with significant Libyan decision-makers before I leave and hope to present a unified Libyan position in St. Petersburg that will show we can act together in the national interest."
OPEC economists in their monthly market report for July said that, combined, Nigeria and Libya were adding about a quarter million barrels of oil per day to the market, while other member states scaled back. Recent data shows Libya is on pace to pass 1 million barrels per day, in line with Sanalla's goal for the month and close to pre-crisis levels.
This week, members of Libya's national oil company met with officials from Norwegian energy company Statoil to review developments in the North African country. The NOC said officials from Statoil were briefed on the "improvement of security situation in the production areas and NOC plans to return production to its normal levels."
Libya and Nigeria are exempt from the OPEC-led agreement so they can steer oil revenue toward national security efforts. On Tuesday, the U.N. High Commissioner for Human Rights said it was concerned about the treatment of prisoners by members of the Libyan National Army, which controls eastern Libya.
"We have documented unlawful killings by armed groups on all sides of the conflict in Libya, and despite ample information regarding such crimes, widespread impunity continues," UNHCR spokesperson Liz Throssell said in an emailed statement.
Washington DC (SPX) Jul 18, 2017
Spilt crude oil has repeatedly polluted and even destroyed marine ecosystems. An effective measure would be to remove spilt oil slicks by absorption into a separable solid phase. As Indian scientists now report in the journal Angewandte Chemie, congelation of the oil to a rigid gel within impregnated cellulose and scooping the particles out is possible. Marine oil spills are disasters that ... read more
All About Oil and Gas News at OilGasDaily.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|