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China’s CNPC Boosts Global Oil, Gas Ties

China’s CNPC Boosts Global Oil, Gas Ties

China National Petroleum Corporation (CNPC)…

Production Restarting In Libya After Fields Come Back Online

Brega oil storage

Kayrros estimates that more production capacity started to come online at the Elephant oil field and the Sirte basin fields on July 13, reducing total shut-in production in Libya to 180 kb/d. Output is set to further ramp-up in the immediate days as more Eastern fields are likely to restart, including the Waha oilfield.

In the Murzuq basin, the dispute with local guards at the Elephant oil field was resolved early last week. The field shutdown back in mid-February was due to protests by local tribes and guards and has been a major source of lost production in the country. Production has now restarted for the first time since the protests began, and it is set to ramp up shortly, according to the Libyan National Oil Corporation (NOC).

Following the resolution of the conflicts in Eastern Libya, major oil fields in the Sirte basin are also restarting. Production at the Abu Attifal oilfield is ramping up while the Dayfah oilfield recently restarted.

The NOC recently announced the lifting of force majeure at Es Sider, Ras Lanuf, Zuwetina and Hariga, where exports have been halted for the past two weeks. Storage facilities at Ras Lanuf remain limited, however, following the conflicts. Only four tanks are operational, greatly reducing the amount of storage capacity.

Conflicts in the regions around Es Sider and Ras Lanuf caused the NOC to declare force majeure in mid-June. The fighting resulted in damage to four storage tanks at Ras Lanuf on June 20-21, severely impacting exports from the terminal.

By Kayrros

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