Latest news with #MabrukOilOperations
Reuters
12-03-2025
- Business
- Reuters
Oil production resumes at Libya's Mabruk field after a decade
DUBAI, March 12 (Reuters) - Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) said in a statement on Wednesday. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, according to the statement, with plans for an increase to 7,000 bpd by the end of March and 25,000 bpd by July. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. Crude began to be transferred to the nearby Al-Bahi field on Tuesday as part of efforts to improve the efficiency of the country's oil infrastructure and operations. Libya's National Oil Corporation (NOC) had said it planned to reopen the Mabruk oilfield in the first quarter of 2023 with production up to 25,000 barrels per day. The field had been closed in 2015 after what NOC described as a "terrorist" attack that cost the company $575 million in field equipment losses. Libya, holding Africa's largest proven oil reserves, has struggled to maintain consistent output levels due to internal conflicts and infrastructure damage since 2011. "This marks a significant step forward in Libya's oil sector, reflecting improved stability and confidence in our capacity to rebuild and boost the national economy," Wednesday's statement said.
Asharq Al-Awsat
12-03-2025
- Business
- Asharq Al-Awsat
Oil Production Resumes at Libya's Mabruk Field after a Decade
Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) said in a statement on Wednesday. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, according to the statement, with plans for an increase to 7,000 bpd by the end of March and 25,000 bpd by July. Crude began to be transferred to the nearby Al-Bahi field on Tuesday as part of efforts to improve the efficiency of the country's oil infrastructure and operations. Libya's National Oil Corporation (NOC) had said it planned to reopen the Mabruk oilfield in the first quarter of 2023 with production up to 25,000 barrels per day, Reuters reported. The field had been closed in 2015 after what NOC described as a "terrorist" attack that cost the company $575 million in field equipment losses. Libya, holding Africa's largest proven oil reserves, has struggled to maintain consistent output levels due to internal conflicts and infrastructure damage since 2011. "This marks a significant step forward in Libya's oil sector, reflecting improved stability and confidence in our capacity to rebuild and boost the national economy," Wednesday's statement said.
Arab News
12-03-2025
- Business
- Arab News
Oil production resumes at Libya's Mabruk field after a decade
Production officially restarted on Sunday at an initial rate of 5,000 barrels per dayCrude began to be transferred to the nearby Al-Bahi fieldDUBAI: Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) said in a statement on officially restarted on Sunday at an initial rate of 5,000 barrels per day, according to the statement, with plans for an increase to 7,000 bpd by the end of March and 25,000 bpd by began to be transferred to the nearby Al-Bahi field on Tuesday as part of efforts to improve the efficiency of the country's oil infrastructure and National Oil Corporation (NOC) had said it planned to reopen the Mabruk oilfield in the first quarter of 2023 with production up to 25,000 barrels per field had been closed in 2015 after what NOC described as a 'terrorist' attack that cost the company $575 million in field equipment holding Africa's largest proven oil reserves, has struggled to maintain consistent output levels due to internal conflicts and infrastructure damage since 2011.'This marks a significant step forward in Libya's oil sector, reflecting improved stability and confidence in our capacity to rebuild and boost the national economy,' Wednesday's statement said.
Zawya
12-03-2025
- Business
- Zawya
Oil production resumes at Libya's Mabruk field after a decade
Libya's Mabruk Oil Operations has resumed production at the Mabruk oilfield after a decade-long shutdown, the Tripoli-based Government of National Unity (GNU) said in a statement on Wednesday. Production officially restarted on Sunday at an initial rate of 5,000 barrels per day, according to the statement, with plans for an increase to 7,000 bpd by the end of March and 25,000 bpd by July. Crude began to be transferred to the nearby Al-Bahi field on Tuesday as part of efforts to improve the efficiency of the country's oil infrastructure and operations. Libya's National Oil Corporation (NOC) had said it planned to reopen the Mabruk oilfield in the first quarter of 2023 with production up to 25,000 barrels per day. The field had been closed in 2015 after what NOC described as a "terrorist" attack that cost the company $575 million in field equipment losses. Libya, holding Africa's largest proven oil reserves, has struggled to maintain consistent output levels due to internal conflicts and infrastructure damage since 2011. "This marks a significant step forward in Libya's oil sector, reflecting improved stability and confidence in our capacity to rebuild and boost the national economy," Wednesday's statement said. (Reporting by Tala Ramadan; Editing by Kirsten Donovan)
