BP and partners agree to resume exploration in Libya next year

Work under the contract has been suspended since 2014

Libyan oilfield ‘closed due to strike’

A strike by Libyan security guards over salary payments has forced the closure of the El Feel oilfield, a spokesman from the oilfield told a news outlet. El Feel is operated by a joint venture owned by National Oil Corporation (NOC) and Italy’s energy company, Eni. Mohamed El Harari, a spokesman for NOC told reporters: […]

Libya puts out oil tank fire

A fire that burned for a week at one of the biggest oil ports in Es Sider, Libya has been extinguished, officials confirmed on Friday. The fire began after a rocket attack by a militant group hit the storage area and set it on fire, according to Reuters. A government official said the fire has […]

OPEC pumps 70,000 barrels more oil in August

More oil pumping from Libya and Angola pushed up production in the Organisation of Petroleum Exporting Countries (OPEC) by 70,000 barrels a day (b/d) last month. The Middle Eastern group’s oil gushed up to 30.2 million b/d in August from 30.13 million b/d in July, according to a Platts survey of OPEC and oil industry […]

Oil price “dives” below $107 as Iran sanctions set to soften

Oil prices dropped below $107 per barrel this morning as the prospect of easing sanctions on Iran looked more likely. This weekend Iran agreed to curb its nuclear weapons activity from 20 January in a deal with six world powers. The country could be able to export much more of its oil than under the […]

Wage row threatens to close Libyan gas pipe

Security guards in Libya are reportedly threatening to block a gas pipeline to the capital Tripoli (pictured) in a row over wages. It follows a spate of strikes at Libyan oil fields which have seen the nation’s oil production dwindle to 250,000 barrels of oil per day and oil exports are said to have been […]

“Small gains” for coal and carbon prices, oil drops temporarily

Coal and carbon prices saw “small gains” last week while oil prices slipped temporarily according to a weekly market report from npower. The EU’s vote in favour of delaying the release of emissions credits helped boost carbon prices said Sammy Blay, npower’s Client Portfolio Manager. He said: “Carbon saw a little strength after the European […]

The Market Report – 17th December 2013

Find out about what’s influencing gas supply, power prices and what you should watch out for in this weekly update on the energy market from Sammy Blay, Client Portfolio Manager at npower. If you are blocked from seeing this video and would like your own download, please email [email protected] .

Libyan rebel leader refuses to reopen oil ports

A Libyan rebel leader has refused to reopen oil exporting ports in the country’s eastern Cyrenaica region, Bloomberg has reported. Ibrahim Al Jedran’s forces have had five of Libya’s oil terminals in lockdown since July. He has, among other things, demanded more say for the region over Libya’s oil revenues. Last week it looked like […]

Frosty winter continues to drive prices higher

Prompt gas and power prices were once again up this week in response to continuing colder than usual winter weather, according to this week’s market report. Magali Hodson, Product and Services Optimisation Manager for npower said prompt prices for gas started the week strong “on the back of increased residential demand as well as generation […]