• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days Does Toyota Know Something That We Don’t?
  • 5 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 1 day America should go after China but it should be done in a wise way.
  • 5 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 4 days China is using Chinese Names of Cities on their Border with Russia.
  • 5 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 4 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 10 days huge-deposit-of-natural-hydrogen-gas-detected-deep-in-albanian-mine
  • 5 days Putin and Xi Bet on the Global South
  • 5 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 6 days United States LNG Exports Reach Third Place
  • 6 days Biden's $2 trillion Plan for Insfrastructure and Jobs

Breaking News:

U.S. Crude Oil, Gasoline Inventories Boom

U.S. Drillers Pump The Brakes

U.S. Drillers Pump The Brakes

The total number of active…

Libya Oil Production Rebounds

Libya’s crude oil production has rebounded to 1.2 million barrels daily, according to the country’s oil minister, Mohammed Oun.

Speaking to Bloomberg, Oun said Libya’s crude oil output was back to normal after a series of outages, adding that the biggest field in the country, El Sharara, was producing at near maximum capacity, which is 300,000 bpd.

Libya’s oil production dropped sharply earlier this month after the National Oil Corporation shut down a key pipeline for much-needed repairs. The pipeline shutdown led to a 200,000-bpd decline in production.

That came on top of the latest field blockade by the Petroleum Facilities Guard that began in December and involved four fields, including El Sharara. According to reports, the PFG closed a valve on a pipeline connecting the El Sharara field to the Zawiya port, and another one on a pipeline connecting the Wafa field to the Mellitah port. NOC declared force majeure on exports following the blockade.

The combined effect of the production outages brought Libya’s output to just 780,000 bpd. The country, despite being an OPEC member, is not part of the OPEC+ production control deal because of its aggravated political situation.

The repairs of the pipeline, however, seem to have been unavoidable, after years of neglect and mismanagement, which, according to NOC chairman Mustafa Sanalla meant “it is not possible to continue its regular operation due to the large number of leaks and the deterioration of surface facilities, due to the consequences of illegal closures in the past years, as well as the absence of approved budgets for the sector.”

Even with the field reopenings and the finalization of the pipeline repairs, four oil export ports in western Libya remain shut down because of bad weather, Bloomberg reported, citing unnamed sources in the know. The ports, including Zawiya, Bouri Farwah, and Mellitah, were closed because of the weather earlier this month.

By Irina Slav for Oilprice.com


More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News