Libyan oil production will take years, not months, to return to full capacity once a political solution to the conflict is found, according to Barclays Capital.
“The reincorporation of Libyan oil into the world market increasingly seems a distant possibility” according to the study, which warns of a lasting political vacuum after the potential fall of the Gaddafi regime. Read more
Shokri Ghanem, the chairman of the Libyan National Oil Corporation, has left the country for Tunisia, in what is being called by the Libyan rebels and the British foreign office a defection. Read more
Oil production at the Sarir and Misla oilfields could restart within weeks, the Libyan National Transition Council has said. Read more
In this week’s readers’ Q&A session, Amrita Sen, oil analyst at Barclays Capital, answers your questions.
In the first of two posts, she discusses whether speculation is driving up the oil price, whether such an increase could trigger another recession and when “peak oil” might occur. Read more
Amrita Sen, BarCap’s oil analyst, has kindly agreed to extend the deadline so more Energy Source readers will get the chance to ask their questions. Read more
Over the past week, the oil price appears to have moved in sync with events in Libya. When Gaddafi looked close to extinguishing the revolution, prices dropped with the expectation that Libyan oil would start flowing again. Every time the rebels have been given a boost, oil prices have gone back up. Read more
The FT LEx team discuss the effect of events in Libya on markets Read more
A note has come through from Moody’s about oil companies operating in the Middle East, which makes a couple of interesting points. Read more
Shell has begun to ship liquid natural gas cargoes into Tokyo to help meet their energy demands in the aftermath of the earthquake and subsequent nuclear crisis. The first batch into the Tokyo Bay area was agreed on Monday night, and significantly for global LNG prices, it had originally been intended for elsewhere. Read more