oil extraction

WSJ News Exclusive | Libya Restarts Oil Production at Biggest Field

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WSJ News Exclusive | Libya Restarts Oil Production at Biggest Field

Output at Libya’s Sharara oil field, seen here in 2014, has been shut almost continuously since early January. Photo: ismail zetouni/Reuters Oct. 11, 2020 10:50 am ET Production at Libya’s largest oil field restarted Sunday afternoon, Libyan officials said, a move that could quickly increase the country’s overall output after an extended shutdown and add … Read more

Oil Industry Is Fading Away in Land of the World’s Richest Reserves

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Oil Industry Is Fading Away in Land of the World’s Richest Reserves

Venezuela’s oil industry—rich in reserves, a crucial Allied resource in World War II, a founding member of OPEC—is grinding toward a halt. Venezuela has greater oil stores than any other country. But after years of corruption, mismanagement and more recently U.S. sanctions, its oil output has dropped to a tenth of what it was two … Read more