Oil Exports Remain Halted at Major Libyan Ports, Say Engineers

A general view of Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, August 28, 2024. REUTERS/Mohammed Al-Hadad
A general view of Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, August 28, 2024. REUTERS/Mohammed Al-Hadad
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Oil Exports Remain Halted at Major Libyan Ports, Say Engineers

A general view of Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, August 28, 2024. REUTERS/Mohammed Al-Hadad
A general view of Ras Lanuf Oil and Gas Company in Ras Lanuf, Libya, August 28, 2024. REUTERS/Mohammed Al-Hadad

Oil exports at major Libyan ports were still halted on Monday and production curtailed across the country, though some output was being increased to feed local power generation, six engineers said.

Exports remained halted at the ports of Es Sidra, Ras Lanouf, Hariga, Zueitina, Brega and Sirte, the engineers there said.

Meanwhile, both Brent and WTI have posted losses for two consecutive months as US and Chinese demand concerns have outweighed recent disruptions in Libyan oil supply and supply risk related to conflict in the Middle East.

According to Reuters, while Libyan exports remain halted, the Arabian Gulf Oil Company has resumed output at up to 120,000 bpd to meet domestic needs.



Türkiye's Botas Buying 4 bcm of LNG from Shell in 10-year Deal

The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle
The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle
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Türkiye's Botas Buying 4 bcm of LNG from Shell in 10-year Deal

The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle
The logo of a Shell gas station is pictured in Ulm, Germany, April 6, 2017. REUTERS/Michaela Rehle

Turkish state energy company Botas and British oil major Shell signed a 10-year LNG agreement on Monday, the Turkish Energy Minister Alparslan Bayraktar said.

"A total of 40 LNG cargoes of approximately 4 billion cubic meters will be delivered annually for a period covering 10 years starting from 2027," Bayraktar said, Reuters reported.

"This agreement ... provides additional regional and global trade opportunities with the options of receiving (LNG) from the filling port and unloading to European terminals."

Speaking in the ceremony, Bayraktar said the deal has strengthened Turkey's prospects of becoming a natural gas centre and its role in playing a part in Europe's supply security.

Botas signed a 10-year LNG agreement with ExxonMobil in May, under which Botas will purchase up to 2.5 million tons of LNG per year from the US company.

Türkiye meets almost all of its consumption needs with imported gas and brought in 14.3 billion cubic metres (bcm), or 28.3% of the 50.5 bcm that it consumed last year, in the form of LNG.

Türkiye has the supply flexibility to a large part of national consumption needs with liquefied gas instead of pipeline gas if needed, with a gasification capacity of approximately 0.16 bcm per day, according to Reuters calculations.