Months before Khalifa Haftar launched attacks in Benghazi and Tripoli, claiming he meant to restore dignity to Libya, oil companies were issuing reports excluding the country from last year’s hydrocarbon output.
The German independent Wintershall declared that its oil and gas production “remained at the previous year’s high level, despite the production stop in Libya”.
ConocoPhillips met its 2013 production target, “despite five months of curtailed production from Libya”. In 2014, it expects “to deliver 3 to 5% production growth from continuing operations, excluding Libya”.
Hess Corporation’s production for 2013 reveals figures of oil equivalent “per day proforma for our announced asset sales and excluding Libya, which has been largely shut-in since the third quarter of 2013 due to civil unrest”.
The Austrian explorer OMV stated that production from Libya, Yemen and Tunisia “remains to a certain extent unpredictable”.
Marathon Oil reported that uncertainty around production and sales levels from Libya have existed since the first quarter of 2011.
Please read the remaining part of this essay in the May 2014 edition of Africa Oil+Gas Report, which focuses on Independent companies with large African portfolios.
The Africa Oil+Gas Report is the primer of the hydrocarbon industry on the continent. It is the market leader in local contextualizing of global developments and policy issues and is the go-to medium for decision makers, whether they be international corporations or local entrepreneurs, technical enterprises or financing institutions. Published by the Festac News Press Limited since November 2001, AOGR is a monthly, hardcopy and e-copy publication delivered to subscribers around the world. You can subscribe here..
