"Libya: Shell considers resuming activities in country"

" \n Libya: Shell considers resuming activities in country \n \n\n \n Shell is considering resuming operations in Libya by contributing to oilfield developments and increasing marketing and refining activities, Libya Herald\u00a0 reported \u00a0on Tuesday, citing Libya\u2019s National Oil Corporation (NOC) as saying after a meeting with Shell representatives in Tripoli. \n \n\n \n Shell had\u00a0 suspended\u00a0its upstream operations in Libya in 2012, abandoning exploration activities in two blocks in the country because of disappointing results. At the time, NOC said that Shell\u2019s negative assessment of the blocks\u2019 prospects did not reflect reality. \n \n\n \n Now Shell, whose representatives visited Libya, discussed the possibility to help oilfield development in the African OPEC member, NOC said, as quoted by Libya Herald. \n \n\n \n The parties also discussed cooperation in refinery development and development of renewable energy projects, NOC\u2019s chairman Mustafa Sanalla said, as per Libya Herald. \n \n\n \n At the end of last year, NOC said that another European major, France\u2019s TotalEnergies, \u00a0 planned to increase \u00a0its investments in Libya\u2019s oil industry. \n \n\n \n Must Read: How the pandemic widened global current account balances \n \n\n \n NOC added it had discussed with the company raising Libya\u2019s production to \u201cthe highest levels.\u201d \n \n\n \n TotalEnergies, the new name of Total, has stakes in several Libyan oil fields, i ncluding the nation\u2019s biggest, Sharara. \n \n\n \n The field, along with many others, was shut down for more than eight months last year after groups affiliated with the eastern government blockade oil export terminals, which pushed Libya\u2019s oil output from above 1 million bpd to less than 100,000 bpd. \n \n\n \n Libya could boost its oil production to 1.6 million barrels per day (bpd) by the middle of 2022 if the industry has the necessary funding, Libya\u2019s Oil Minister Mohamed Oun told Italian news agency Agenzia Nova in an interview published last week. \n \n\n \n Currently, the North African producer exempted from the OPEC+ cuts pumps around 1.2 million bpd. According to secondary sources in OPEC\u2019s latest Monthly Oil Market Report, Libya\u2019s crude oil production averaged 1.163 million bpd in June, up from 1.157 million bpd in May. \n "

"Libya: Shell considers resuming activities in country"

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