RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2018-07-02 12:10:00

LIBYA'S OIL DOWN

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 on Saturday.

The production drop has been gradual as ships have been barred from loading at the ports since Thursday.

Some two-thirds of storage capacity at eastern ports is out of action and the remaining capacity is nearly full, one of the sources said.

Storage at oil fields is also limited due to attacks by Islamic State militants in previous years.

Libya had been producing more than 1 million bpd in recent months, but on June 14 an attack against forces loyal to eastern-based commander Khalifa Haftar at the ports of Ras Lanuf and Es Sider shut them down, slashing production by 450,000 bpd.

After recapturing the ports, Haftar's Libyan National Army (LNA) announced it would be handing them to a parallel National Oil Corporation (NOC) in the eastern city of Benghazi, which said it would stop exports under the internationally recognised NOC in Tripoli, raising the prospect of prolonged output losses.

The Tripoli NOC has said it expects to declare force majeure on exports from Zueitina and Hariga on Sunday, bringing total production losses to 800,000 bpd.

Port sources said there was no change to the situation on Saturday, with tankers booked by the NOC in Tripoli still blocked from loading.

Western powers have called for the ports to be returned to the exclusive control of NOC Tripoli. Past attempts by eastern-based factions to sell oil independently of Tripoli have been thwarted by U.N. Security Council resolutions.

-----

Earlier: 

 LIBYA RETAKES OIL
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.

 LIBYA'S OIL PRODUCTION DOWN 400 TBD
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.

 LIBYA - OPEC AGREEMENT
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.

 LIBYAN OIL PRODUCTION 1 MBD
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.

 LIBYAN OIL DOWN 360 TBD
2017, August, 31, 12:20:00

LIBYAN OIL DOWN 360 TBD

Three Libyan oilfields have gone offline and output has declined by 360,000 bopd after militia violence, the country’s NOC announced.

 LIBYA'S OIL UP TO  1.069 MBD
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.

 LIBYA NEEDS $100 BLN
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.

Tags: LIBYA, OIL, PRODUCTION