LIBYA'S OIL PRODUCTION DOWN TO 527 TBD

REUTERS - Libya’s national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation (NOC) said in a statement on Monday.

The NOC had not previously stated how high the country's production had climbed after partially recovering to more than 1 million bpd a year ago.

In the video statement dated July 8 the chairman of Tripoli-based NOC, Mustafa Sanalla, said the Feb. 23 closure of the El Feel oilfield due to protests led to the loss of 80,000 bpd, but output had subsequently remained around 1.1 million bpd.

Last month it dropped sharply when an armed attack against forces loyal to eastern-based commander Khalifa Haftar at the oil export ports of Ras Lanuf and Es Sider shut both terminals down.

After Haftar's Libyan National Army (LNA) repelled the attack a week later, it announced it would hand the ports and fields in the east to a parallel NOC.

Ras Lanuf and Es Sider have remained shut and tankers booked by the NOC in Tripoli, which is recognised internationally as the sole producer and seller of Libyan oil, have been unable to load.

"Our production today is 527,000 bpd. Tomorrow it will be less and the day after tomorrow less again. And we are going lower," Sanalla said.

The NOC had previously estimated the production loss from the stoppage at 850,000 bpd, or $67 million in daily revenue.

OPEC member Libya was pumping 1.6 million bpd or more before conflict, blockades and political splits slashed output from 2013.

-----

Earlier:

2018, July, 2, 12:10:00 LIBYA'S OIL DOWN REUTERS - Libya’s oil production has been reduced to 315,000 barrels per day (bpd) as storage tanks at Hariga and Zueitina ports fill up due to eastern officials blocking exports, two Libyan oil sources said

2018, June, 25, 12:10:00 LIBYA RETAKES OIL PLATTS - The Libyan National Army has retaken the key eastern oil terminals of Ras Lanuf and Es Sider that shut 450,000 b/d of crude production, the head of the state-owned National Oil Corp. said Friday.

2018, June, 20, 12:40:00 LIBYA'S OIL PRODUCTION DOWN 400 TBD PLATTS - Libyan crude production has fallen around 400,000 b/d -- or nearly halved -- due to militia attacks on the eastern oil terminals of Ras Lanuf and Es Sider, the head of the countrys National Oil Corp. said Tuesday.

2017, December, 8, 17:10:00 LIBYA - OPEC AGREEMENT BLOOMBERG - With a fragile political accord barely holding the country together, Libya faces an array of challenges preventing its return to the output levels of about 1.6 million barrels a day pumped before the 2011 uprising against Muammar Qaddafi.

2017, October, 23, 11:15:00 LIBYAN OIL PRODUCTION 1 MBD Libya’s oil production increased steeply to the current level of 850,000 b/d from a low point in August 2016 of below 300,000 b/d. Production surpassed 1 million b/d in July.

2017, July, 28, 09:55:00 LIBYA'S OIL UP TO 1.069 MBD Libya's oil production is 1.069 million b/d, and the country hopes to grow its output to as much as 1.25 million b/d this year, a source close to production said Monday.

2017, January, 26, 18:45:00 LIBYA NEEDS $100 BLN Libya froze all new foreign investment in 2011 after the civil war that toppled strongman Moammar Gadhafi. International oil companies such as Total SA of France and ConocoPhillips have long had operations in Libya, and Eni SpA of Italy has found ways to keep pumping even as clashes among warring militias and Islamic State damaged the country’s oil infrastructure.