• 22 hours Statoil Changes Name
  • 2 days Nuclear Bomb = Nuclear War: Saudi Arabia Will Develop Nuclear Bomb If Iran Does
  • 2 days Tillerson just sacked ... how will market react?
  • 2 days Petrobras Narrows 2017 Loss, Net Debt Falls Below $85bn
  • 15 hours Russian hackers targeted American energy grid
  • 12 hours Is $71 As Good As It Gets For Oil Bulls This Year?
  • 2 days Proton battery-alternative for lithium?
  • 1 day Ford Recalls 1.38 Million Vehicles (North America) For Loose Steering Wheel Bolt
  • 12 hours Oil Boom Will Help Ghana To Be One Of The Fastest Growing¨Economies By 2018!
  • 15 hours Country With Biggest Oil Reserves Biggest Threat to World Economy
  • 1 day I vote for Exxon
  • 2 days South Korea Would Suspend Five Coal - Fire Power Plants.
  • 13 hours HAPPY RIG COUNT DAY!!
  • 2 days Why is gold soooo boring?
  • 2 days UK vs. Russia - Britain Expels 23 Russian Diplomats Over Chemical Attack On Ex-Spy.
  • 12 hours Spotify to file $1 billion IPO
Post Tillerson: Is The Iran Nuclear Deal At Risk?

Post Tillerson: Is The Iran Nuclear Deal At Risk?

President Trump’s move to replace…

Libya Close To 700,000 Bpd In Daily Oil Output

Oil tanker anchored

Libya’s National Oil Corporation has announced the country’s crude oil output has hit 685,000 barrels per day as of the start of January. The increase was made possible by the resumption of pipeline operation from two major fields in the western part of the country, Sharara and Elephant.

News of the reopening of the pipeline carrying oil from Sharara and Elephant (also called El Feel) came in December, when the Petroleum Facilities Guard (PFG) said it had ended a two-year blockade of the facility but there were doubts as to how quickly full-scale production from the fields will resume, especially given the continuing political turmoil in Libya.

Now, NOC has said that production at Sharara will return to its daily capacity of 330,000 barrels gradually but did not specify any similar details about Elephant, which can produce 90,000 bpd. Still, NOC added that it hoped output can be raised to 900,000 barrels per day in the next few months.

Libya has managed to more than double its crude oil output from 300,000 bpd in September, thanks to the reopening of the oil ports in the Oil Crescent, which were held as bargaining chips by the PFG. Control of the ports was wrestled from the PFG by the Libyan National Army (LNA), an eastern-government ally, and handed to the NOC.

By the end of 2017, NOC has plans to bring daily production to 1.1 million barrels.

Meanwhile, however, the tension between various factions, chief among them the Petroleum Facilities Guard and the Libyan National Army remains. In a separate news report, NOC’s chairman Mustafa Sanallah was quoted as saying that the PFG was involved in fuel smuggling from Libya to Tunisia.

According to local media, this activity has bloomed recently, in spite of the work of agencies such as the Anti-Smuggling Commission and NOC. A new armed group calling itself the Anti-Fuel-Smuggling Brigade has also appeared on the scene, stating it will fight fuel smuggling by attacking the tanker trucks carrying oil products to Tunisia.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

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