• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 1 min Sources confirm Trump to sign two new Executive orders.
  • 14 hours CV19: New York 21% infection rate + 40% Existing T-Cell immunity = 61% = Herd Immunity ?
  • 1 hour No More Love: Kanye West Breaks With Trump, Claims 2020 Run Is Not A Stunt
  • 7 hours In a Nutshell...
  • 1 hour Sometimes I Think Trump Supporters on This Forum Are Russians
  • 13 hours A Real Reality Check on "Green Hydrogen"
  • 2 hours Better Days Are (Not) Coming: Fed Officials Suggest U.S. Recovery May Be Stalling
  • 2 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 1 day Why Wind is pitiful for most regions on earth
  • 1 day Why Oil could hit $100
  • 13 hours Putin Paid Militants to Kill US Troops
  • 4 hours Where is Alberta, Canada headed?
  • 3 days Coronavirus hype biggest political hoax in history
Tesla’s Ambitious Plan To Ditch Cobalt

Tesla’s Ambitious Plan To Ditch Cobalt

Tesla is set to disrupt…

Is The Battery Metal Boom Finally Here?

Is The Battery Metal Boom Finally Here?

Battery metals have hit rock…

China Grants First-Ever Fuel Export License To Private Refiner

China Grants First-Ever Fuel Export License To Private Refiner

Private Chinese refiner Zhejiang Petroleum…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Oil Markets On Edge As Libya Brings Back 250,000 Bpd

Crude oil production at the Sharara field in western Libya – the country’s biggest – has resumed, an anonymous source told Reuters, and the force majeure that the National Oil Corporation had placed on the field could be lifted today.

Last week, unnamed armed factions had blocked production at the Sharara and Wafa fields in western Libya, cutting the country’s total output by 252,000 bpd. Sharara alone produced 220,000 bpd before the shutdown, making up a huge chunk of Libya’s overall 700,000-bpd production. It started pumping oil after a two-year pause last December.

When Sharara was restarted in December 2016, NOC said that it planned to increase output from it to the 330,000 bpd it pumped before the civil war, aiming for a national total of 900,000 bpd in the next few months and 1.1 million bpd at the end of 2017.

The anonymous source told Reuters that the latest shutdown of the field was due to armed militia who blocked the pipeline that fed crude from Sharara to the Zawiya export terminal. After intervention from NOC’s chairman Mustafa Sanalla, the militia men agreed to release the pipeline, so the oil flow could be resumed.

The pipeline that caused the latest force majeure used to be under the control of the Petroleum Facilities Guard, which held it, like the four oil terminals in the Oil Crescent, as bargaining chips with the authorities. The PFG relinquished control of the pipeline last December, three months after it left the four oil terminals, surrendering control over them to the Libyan National Army.

Last month saw fresh clashes between the LNA and another group, the Benghazi Defense Brigades, which temporarily froze operations at two of the ports, Es Sider and Ras Lanuf, shutting down several fields that fed crude into the terminals. Although these have since reopened, the political situation in Libya remains highly unstable, and future disruptions to oil supply are very likely. Related: Russia Reaches 2/3 Of Oil Output Cut Target

Before the 2011 war, Libya pumped 1.6 million barrels of crude daily.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News