Libya, San Marino Agree Oil and Gas Deal

Mohamed Aoun, Libya’s Minister for oil and gas has confirmed that his country welcomes oil and gas cooperation with San Marino.

His remarks were made during a meeting with the ambassador of San Marino in Tripoli.

Aoun said the cooperation between the two countries in oil and gas would strengthen the relationship between them.

Both sides also discussed issues of interest for the two countries, according to the oil and gas ministry’s media office.

Meanwhile, Libya’s state-owned National Oil Corporation (NOC) reported that the country’s daily oil production dipped by 100,000 barrels due to the inability to maintain damaged oil tanks caused by armed conflict.

Your Friends Also Read:  No Fuel Subsidy in Uganda as Pump Prices Remain High

In a statement, the NOC said it is deeply concerned about reducing daily oil production due to the inability to maintain tanks damaged by war, as well as the disruption of some emergency projects.

According to Chairman Mustafa Sanalla of the NOC, 11 of the 19 oil tanks are currently out of service, making oil production impossible.

Sanalla affirmed that Waha Oil Company, which is engaged in the exploration and production of crude oil and natural gas in Tripoli, “had to reduce its production by approximately 100,000 barrels per day as a result of the lack of storage capacity in the port of the Sirte Gulf.”

Your Friends Also Read:  Ecobank Transnational Incorporated makes $450million Eurobond debut

The NOC stated that bad weather closed most oil ports in the Sirte Gulf, but the closure could have been avoided if proper infrastructure had been put in place.

Libya’s primary source of revenue is oil and gas. In recent years, however, armed conflict and the closure of oil fields and ports have hurt the sector.

In a recent announcement, Sanalla announced that it would maintain a number of oil fields damaged by armed conflicts and terrorist attacks to maintain an average daily production of 1.2 million barrels.

Libya produced about 946,000 barrels of oil per day in January. 

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from News Central TV.
Your Friends Also Read:  Airtel Africa to Buyout Nigeria Minorities Stake at ₦55.81 Per Share



Leave a Reply

Previous Article
Zambia: Energy Regulation Board Increases Fuel Price (News Central TV)

Zambia: Energy Regulation Board Increases Fuel Price

Next Article

Libya, San Marino Agree Oil and Gas Deal

Related Posts
Powered by Live Score & Live Score App