Libya: Broken Pipeline Causes Crude Spill

The Arabian Gulf Oil Company estimates that some 22,000 barrels a day were being lost from the leak. Reuters
The Arabian Gulf Oil Company estimates that some 22,000 barrels a day were being lost from the leak. Reuters
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Libya: Broken Pipeline Causes Crude Spill

The Arabian Gulf Oil Company estimates that some 22,000 barrels a day were being lost from the leak. Reuters
The Arabian Gulf Oil Company estimates that some 22,000 barrels a day were being lost from the leak. Reuters

A pipeline rupture in Libya is spewing thousands of barrels of oil into the desert, as workers scramble to seal off the leak, authorities said Wednesday.

The damage to a land pipeline linking the Sarir oil field to the Tobruk terminal on the Mediterranean was the latest blow to Libya’s struggling oil industry.

The Arabian Gulf Oil Company, which operates the pipeline, estimates that some 22,000 barrels a day were being lost from the leak, which started Tuesday. It posted footage of the spill and said efforts to stop it were still underway.

The company, which is an affiliate of the state-run National Oil Corporation and based in the eastern city of Benghazi, blamed lack of pipeline maintenance for the leakage.

The spill comes as crucial oil facilities including the country’s biggest field were still closed amid a political impasse that threatens a return of violence.



Russia's Novak: Oil Market Balanced Thanks to OPEC+

Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024.  REUTERS/Olesya Astakhova
Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova
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Russia's Novak: Oil Market Balanced Thanks to OPEC+

Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024.  REUTERS/Olesya Astakhova
Russia's Deputy Prime Minister Alexander Novak and OPEC Secretary General Haitham Al Ghais attend a news briefing in Moscow, Russia November 22, 2024. REUTERS/Olesya Astakhova

The global oil market is balanced thanks to the actions of OPEC+ countries and compliance with its quotas, Russian Deputy Prime Minister Alexander Novak said on Friday following a Russia-OPEC meeting.
OPEC+ countries, which are pumping around half the world's oil, are taking all necessary decisions to maintain market stability, Novak also said after meeting OPEC Secretary General Haitham Al Ghais in Moscow.
"Today, while discussing the situation and forecasts, we assess the current market as balanced. That's thanks primarily to the actions of OPEC+ countries and coordinated actions to comply with the quotas, voluntary commitments of OPEC+ count," Novak said.
The meeting comes as OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, prepares to meet on Dec.1.