By March 22, 2017 0 Comments Read More →

Libyan oil output up to 700,000 b/d after end of port fighting

Libyan oil

Security forces have regained control of two Libyan oil ports, Es Sider and Ras Lanuf (shown).

Libyan oil output hampered by fighting at two key ports

Libyan oil output has increased to 700,000 barrels per day according to the National Oil Corporation, after a drop earlier in March due to fighting at two of the North African country’s two key oil ports.

“We are working very hard to reach 800,000 barrels by the end of April 2017, and, God willing, we will reach 1.1 million barrels next August,” NOC Chairman Mustafa Sanalla said in a statement.

The NOC added in another statement that it was anticipating two fields, Abu Attifel and Rimal which are currently closed for maintenance, will produce 55,000 b/d in the coming weeks.

Reuters reports the two fields are operated by Mellitah Oil and Gas, a joint venture between NOC and Italy’s ENI.  Mellitah is currently producing 41,000 b/d from onshore and offshore fields and 43,000 b/d of condensate.

In early March, Libyan oil output fell to about 600,000 b/d after eastern security forces lost control of oil terminals Es Sider and Ras Lanuf.  11 days later, the terminals were regained.

Sanalla says he expects to regain control over port operations, despite some eastern Libya officials casting doubt over continuing cooperation with NOC in Tripoli.

Port workers have gradually been returning to work and shipping sources say a tanker is expected to load crude at Es Sider this weekend.

The NOC is also looking for some gains from the southwestern field of Sharara, where officials hope to boost production by 70,000 b/d from 221,000 b/d currently.

Despite the recent gains in Libyan oil output, the country lags behind the 1.6 million b/d production seen prior to the 2011 uprising.

Libya and Nigeria are both OPEC members, but are exempt from the supply cut pact.

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