Libya Boosted Oil Production

Libya Boosted Oil Production

An official with the National Oil Corporation (NOC) said that Libya’s oil production reached 685,000b/d on the first day of 2017, up from roughly 600,000b/d in December, AME Info reported.

The boost in production came after a two-year blockade was lifted mid-December on major pipelines leading from the western fields of Sharara and El Feel. Production has been resuming gradually at Sharara, which has a capacity of 330,000b/d. But there has been no announcement of a restart at El Feel, which can produce 90,000b/d, according to Energy World.

Although the NOC official declined to give details on the status of operations at the fields, the country’s national output remains far below the more than 1.6mb/d that Libya was producing before its 2011 uprising. The NOC says it hopes to raise production to nearly 900,000b/d by March, but this remains at risk from political conflict.

Libya is able to grow its oil production despite the Organization for Petroleum Exporting Countries’ (OPEC) decision late November 2016 to curb oil output in an attempt to bring stability to the market and increase global oil prices. Accordingly, OPEC members will cut collective  down to 32.5mb/d. However, both Libya and Nigeria were expected from OPEC’s mandate to allow them to recover from militant attacks on oil and gas infrastructures.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password