• 1 hour UK On Track To Approve Construction of “Mini” Nuclear Reactors
  • 5 hours LNG Glut To Continue Into 2020s, IEA Says
  • 7 hours Oil Nears $52 With Record OPEC Deal Compliance
  • 10 hours Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 12 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 14 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 4 days Shell Restarts Bonny Light Exports
  • 4 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 4 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 5 days Kinder Morgan Warns About Trans Mountain Delays
  • 5 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 6 days Exxon Starts Production At New Refinery In Texas
  • 6 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 7 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 7 days OPEC Oil Deal Compliance Falls To 86%
5 Stock Picks As The Electric Car Boom Accelerates

5 Stock Picks As The Electric Car Boom Accelerates

The electric vehicle industry has…

Libya’s Waha Field Reaches 75,000 BPD Production Recovery

Libya

The Waha field in eastern Libya has covered lost production to a 75,000-barrel-per-day (bpd) level as of Friday, according to a field engineer who spoke to Reuters on Friday.

Fighting between militia groups affiliated with a rival government and other violence had caused a linked pipeline to become damaged, hampering output since early March, when the field last produced at the current level. Waha’s total capacity is 120,000 bpd.

Waha Oil Co. – a joint venture between Marathon Co. Hess Corp. and ConocoPhillips – also had to suspend production earlier this year due to port closures at the Es Sider and Ras Lanuf sites on the Oil Crescent. The Libyan National Army (LNA), led by Khalifa Hafter eventually regained control of the ports from the Benghazi Defense Brigades (BDB), allowing the field to stabilize output.

Technical difficulties and unreliable infrastructure have jeopardized Waha’s operations in the past. Electric failures in the Waha and Diffa fields compromised 60,000 bpd of production at the location, a Libyan oil official said in November.

On Monday, Libya National Oil Corporation (NOC) Chairman Mustafa Sanalla announced that the country has built its oil production up to 760,000 barrels per day and planned to go ahead with plans to expand production to 1.1 million bpd by August of this year.

Related: Tech Breakthroughs May Save Deepwater Oil

There are concerns that an uncontrolled spike in Libyan production is causing the drop in oil prices seen this week. Libya is exempt from the Organization of Petroleum Exporting Countries’ (OPEC) November deal to cut output by 1.2 million bpd for the first half of the year. Years of domestic strife since the 2011 execution of dictator Muammar Gaddafi allowed the country the leeway. The bloc is now considering an extension to the deal through the end of 2017, with key members seemingly onboard.

By Zainab Calcuttawala 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