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 Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
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Türkiye Receives Waiver for Gas Payments to Russia from Gazprombank Sanctions

A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo
A view shows a board with the logo of Gazprombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 5, 2024. REUTERS/Anton Vaganov/File Photo

Türkiye has received an exemption for gas payments to Russia after the United States imposed sanctions on Gazprombank, Turkish Energy Minister Alparslan Bayraktar revealed in response to a question from Reuters.

The US imposed new sanctions on Russia's Gazprombank in November, creating an obstacle for buyers of Russian gas, which had been using the bank to make payments. They have since been seeking clarification and exploring other ways to pay.

Türkiye imports almost all its gas requirement and Russia is the top supplier, providing more than 50% of the country's pipeline imports.

Ankara's pipeline gas imports from Russia stood at 21.1 bcm last year.

Türkiye had requested an exemption in discussions with US officials so that it can continue paying for Russian natural gas imports via Gazprombank.

The US on Thursday also granted a waiver to Hungary, which mainly relies on Russian oil and gas.