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Tag: national oil corporation

Dbeibeh, Shakshak, and Officials Discuss Energy Sector Development and Fuel File

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Prime Minister Abdul Hamid Dbeibeh held a meeting on Monday with the head of the Audit Bureau, Khaled Shakshak, the Minister of State for Cabinet Affairs, the Chairman of the National Oil Corporation, the head of the Libyan Investment Authority, and directors of oversight departments for sovereign sectors, energy, public companies, investments, and banks.

The meeting focused on discussing several investment projects aimed at developing the energy sector and increasing oil and gas production. Emphasis was placed on monitoring legal and technical procedures to reactivate the Ras Lanuf refinery, which has been halted since 2013, following the purchase of the foreign partner’s share. The need to upgrade aging pipelines to support the National Oil Corporation’s plan for increased production was also highlighted.

Additionally, the meeting addressed the mechanism for fuel payment for 2025, setting controls on quantities and supply methods, and resolving this issue. They also discussed activating the Bab Tripoli investment project, which is vital for improving services for citizens, in line with the Audit Bureau’s proposed regulations. The importance of increasing transparency and disclosure in all contracting procedures related to the oil sector was emphasized.

The National Oil Corporation Reveals Oil Production Rates Over the Past 24 Hours

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The National Oil Corporation has disclosed daily production rates, which amounted to more than 1.3 million barrels of crude oil and condensates, and 206.6 thousand barrels of gas equivalent, for a total of 1,539,799 barrels in the past 24 hours. The NOC clarified that this comes just days after the lifting of force majeure.

The NOC also confirmed that production rates will reach pre-shutdown levels in the coming days.

Ben Gdara Oversees Final Preparations for the Public Tender Round

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Today, Sunday, the Chairman of the National Oil Corporation (NOC), Farhat Ben Gdara, along with NOC members, the acting Minister of Oil and Gas of the Government of National Unity, Khalifa Abdulsadiq, and some of the board’s advisors, reviewed the final preparations for the upcoming public tender round during a meeting.

A detailed presentation was delivered by the team responsible for the preparations, showcasing the progress made in the tender program and clarifying the ongoing efforts to announce it in the coming period.

Earlier, a team of experts had been appointed to prepare for this round as part of the corporation’s strategy to boost production capacity.

Ben Gdara Discusses Strategy for Enhancing Oil Facility Performance with French Ambassador

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The Chairman of the National Oil Corporation, Farhat Ben Gdara, discussed various strategies aimed at improving and upgrading the performance of the NOC’s oil facilities during a meeting with the French Ambassador, Mustafa Mahraj. These strategies align with the corporation’s ambitions for growth.

The meeting also explored mechanisms for joint cooperation to achieve lasting stability and independence for Libya’s oil sector, which would lead to increased production levels.

The UN Mission Welcomes the National Oil Corporation’s Lifting of Force Majeure on Production

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The United Nations Mission welcomed the announcement by the National Oil Corporation (NOC) on Thursday, lifting the state of force majeure on oil production. It emphasized the need for the revenues from this vital resource to be directed through the appropriate institutional framework, ultimately managed by the Central Bank of Libya.

The mission also stressed the importance of utilizing oil resources to achieve development and prosperity for the Libyan people and to ensure the country’s economic and financial stability.

National Oil Corporation Board Discusses Increasing Oil Production Ratios in Its Tenth Meeting of 2024

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The Board of Directors of the National Oil Corporation held its tenth regular meeting for the year 2024 today, chaired by the Chairman, Farhat Ben Gdara.

The meeting focused on discussing a range of topics related to the sector, primarily the progress of subsidiary companies and overcoming the challenges they face in implementing the Corporation’s strategy to increase production rates and modernize the sector’s infrastructure.