• 4 minutes "Natural Gas Trading Picks Up Considerably Amid High Volatility" by Charles Kennedy - ...And is U.S. NatGas Futures dramatically overbought at the $6.35 range?
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 13 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days What China is Learning from Russia's War in Ukraine and its Consequences
  • 20 hours Natural Gas is the Cleanest and most Likely Source of Energy to Fuel the World.
  • 7 hours Advancing Fundamental Drilling Science - Geothermal drilling successes offer potential gain for petroleum industry
  • 4 days Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65
  • 5 days Revisiting: "The U.S. Grid Isn’t Ready For A Major Shift To Renewables" from March 2021 by Irina Slav at OILPRICE
  • 12 hours "Russia will stop 'in a moment' if Ukraine meets terms - Kremlin" by Reuters via Yahoo News...but Reuters suddenly cut out the balanced part of the story.
Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Libya's Meager Crude Oil Exports Set To Plunge In August

With Libya's conflict escalating, the country's crude oil exports are set to be just 1.2 million barrels in August, a 40-percent plunge from July, Bloomberg reported, citing an initial loading program it has seen.

This month, two terminals in the country holding Africa's largest crude oil reserves are set to ship a cargo of 600,000 barrels each, according to the program Bloomberg has seen.

Most of Libya's oil terminals and facilities are closed amid an ongoing civil war in the country, with violent clashes erupting between armed groups in Libya's Oil Crescent.

Currently, oil production in the country is around 100,000 barrels per day (bpd). This figure is dramatically down from 1.2 million bpd at the start of the year, just before paramilitary formations affiliated with the Libyan National Army (LNA) of eastern Libyan strongman General Khalifa Haftar occupied Libya's oil export terminals and oilfields.

Early in June, Libya's National Oil Corporation (NOC) resumed production at the 300,000-bpd Sharara oilfield after negotiating the opening of an oilfield valve that had been closed since January. But just a day later, Sharara shuttered again, after an armed force had told the workers in the field to stop working.  

Last week, NOC said that it "is deeply concerned about the continuing militarization of its oil facilities and the heavy presence of foreign mercenaries at various oil fields and ports in the east and south of the country."

The presence of mercenaries at the Ras Lanuf petrochemical complex, the Zueitina oil port, and the Zallah field "are a threat and may lead to the destruction of the Libyan people's sole source of revenue," the Libyan oil firm said.  

A few days earlier, NOC's chairman Mustafa Sanalla said that "The illegal oil blockade has had disastrous effects on our national economy and damaged the living standards of Libyans. Our reservoirs are suffering permanent damage, and stagnant fluids are corroding our pipelines, which will cost us huge amounts to repair. We urge all Libyan parties to do everything possible to restart oil production as soon as possible to avoid further damage."   

By Tsvetana Paraskova 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