No Result
View All Result
Wednesday, October 4, 2023
24 °c
Tripoli
24 ° Thu
24 ° Fri
24 ° Sat
24 ° Sun
  • Advertising
  • Contact
LibyaHerald
 
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
SUBSCRIBE
  • Home
  • Libya
  • Business
  • Opinion
  • Magazine
  • Advertising
  • Login
  • Register
No Result
View All Result
LibyaHerald
No Result
View All Result
Home Libya

NOC’s Sanalla heading to Russia for oil output talks

byNigel Ash
July 19, 2017
Reading Time: 2 mins read
A A
12
SHARES
52
VIEWS
Share on FacebookShare on Twitter

By Libya Herald reporters.

NOC's Sanalla off to St. Petersburg (File photo)
NOC’s Mustafa Sanalla off to St. Petersburg (File photo)

Tripoli, 18 July 18, 2017:

National Oil Corporation (NOC) chief Mustafa Sanalla will beRussia’s St Petersburg on Monday to tell OPEC and non-OPEC oil producers why Libya simply cannot afford to cut back on its rising oil output, even though global oil prices remain weak because of excess production.

At its Algiers meeting last November OPEC members agreed that Libya, along with Nigeria and Iran should be exempted from voluntary price-support cutbacks. But this year Libyan production has recovered strongly from an average of  300,000 bpd to in excess of a million bpd. This is ahead of the August target for the magic million that Sanalla set earlier in the year. It may be significant that while oil traders have been confirming the million plus figure for some days, NOC has not yet trumpeted the achievement.

Sanalla has been invited to the Joint Technical Committee by OPEC to share Libyas production plans. Most of the other OPEC and non-OPEC oil states will be represented at ministerial level.

RELATED POSTS

Facilities Security Authority meets Russian and Italian ambassadors – discusses training and provision of security to returning companies

During the 8th OPEC International Seminar in Vienna, the Minister of Oil called on Austrian company OMV to expand its investments in Libya

The NOC chief put out a statement today saying that before he left, he would be consulting significant Libyan decision makers.

“ I hope to present a unified Libyan position in St Petersburg that will show we can act together in the national interest”.

He also said “ We will take this opportunity to share with the committee the factors enabling and constraining Libya’s production recovery”.

One of those factors is decayed and under-maintained infrastructure. Sanalla has been conducting a charm offensive with NOC’s existing and potential exploration and production partners, including BP, OMV, Statoil, Repsol and ENI  to woo them back to Libya or have them expand their operations here.

Most recently he met top executive from Russian oil firms Rosneft and Tafneft. From both companies Sanalla is seeking investment in return for oil liftings. Tafneft was working in both the Ghadames and Sirte basins before it pulled put in 2014. It would seem very likely that the NOC chief will continue talks with both companies while he is in Russia.

Sanalla has said that he believes that OPEC should consider the social and economic impact of any production cuts it might urge on Libya. Before the Revolution the country was producing around 1.6 million bpd.

 
Tags: featuredLibyaNOCOPECRosneftRussiaSanallaSt PetersburgTafneft
Share5Tweet3Share1

Related Posts

More humanitarian aid arrives in eastern Libya from Canada, Turkey, Qatar and Kuwait – to help in post Storm Daniel efforts
Libya

More humanitarian aid arrives in eastern Libya from Canada, Turkey, Qatar and Kuwait – to help in post Storm Daniel efforts

October 3, 2023
Final phase of 5+5 Defence Initiative’s LIVEX Maritime Security Exercise ”Seaboard 23” concluded
Libya

Final phase of 5+5 Defence Initiative’s LIVEX Maritime Security Exercise ”Seaboard 23” concluded

October 3, 2023
UNSMIL: Warring parties invited to begin negotiations on 29 September
Libya

UNSMIL statement on unified Derna reconstruction process receives support from leading states

October 3, 2023
UN Security Council authorises sanctions against anyone endangering Libya’s stability and democracy
Libya

Libya’s continued political and institutional division, and absence of accountability for national resources cannot continue: UN Working Group

October 2, 2023
UN calls for humanitarian pause to evacuate trapped civilians and deliver humanitarian assistance
Libya

Flood Daniel: International rescue teams begin to phase out, humanitarian response scaling up says OCHA report

October 1, 2023
Spanish epidemiologists and water specialists arrive in east Libya to help with post-Storm Daniel recovery
Libya

Spanish epidemiologists and water specialists arrive in east Libya to help with post-Storm Daniel recovery

September 28, 2023
Next Post

Tunisians make large fuel smuggling bust on border

Unhappiness over Beida government fees for foreign marriages

Unhappiness over Beida government fees for foreign marriages

 

Advertise on LibyaHerald

Reach thousands of our site visitors daily

240 x 400px

Advertise Here
ADVERTISEMENT

Top Stories

  • Direct flights from Tripoli to Rome to resume on Saturday

    Direct flights from Tripoli to Rome to resume on Saturday

    102 shares
    Share 43 Tweet 25
  • Qatar Civil Aviation to conduct Libyan airports inspection in October, signs MoU with Libyan counterpart

    60 shares
    Share 24 Tweet 15
  • Ministry of Oil concerned about negative effect of UN report on fuel smuggling on sector investment

    48 shares
    Share 19 Tweet 12
  • On the day of first direct Tripoli to Rome flight, MoU signed between Libyan Civil Aviation and its Italian counterpart

    48 shares
    Share 20 Tweet 12
  • As U.S. calls for unified east-west Libyan effort, eastern Libyan government postpones Derna reconstruction conference to November

    46 shares
    Share 18 Tweet 12
LibyaHerald

The Libya Herald first appeared on 17 February 2012 – the first anniversary of the Libyan Revolution. Since then, it has become a favourite go-to source on news about Libya, for many in Libya and around the world, regularly attracting millions of hits.

Recent News

Libyan Export Promotion Centre to unify efforts to advance the fisheries sector

Refurbished Ubari airport reopened, receives first flight in four years

Sitemap

  • Why subscribe?
  • Terms & Conditions
  • FAQs
  • Copyright & Intellectual Property Rights
  • Subscribe now

Newsletters

    Be the first to know latest important news & events directly to your inbox.

    Sending ...

    By signing up, I agree to our TOS and Privacy Policy.

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    No Result
    View All Result
    • Login
    • Sign Up
    • Cart
    • Libya
    • Business
    • Advertising
    • About us
    • BusinessEye Magazine
    • Letters
    • Features
    • Why subscribe?
    • FAQs
    • Contact

    © 2022 LibyaHerald - Powered by Sparx Solutions.

    Welcome Back!

    Sign In with Facebook
    Sign In with Linked In
    OR

    Login to your account below

    Forgotten Password? Sign Up

    Create New Account!

    Sign Up with Facebook
    Sign Up with Linked In
    OR

    Fill the forms bellow to register

    *By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
    Are you sure want to unlock this post?
    Unlock left : 0
    Are you sure want to cancel subscription?