Cairo - Decypha: Libya’s largest oil terminal has resumed shipment of oil tankers. Crude shipments have been halted in two ports, Es Sider and Ras Lanuf, due to clashes between armed militias.
The first shipment will be through the Es Sider port to China, using the Suezmax vessel Demetrios which reportedly can transport up to one million barrels, a person involved in the matter told The Time of Oman.
The country’s oil production has made a complete recovery prior to the recent clashes that erupted March 3rd, producing a total of 700,000 barrels a day (bpd) and targeting 800,000 bpd.
Affected by the clashes was Waha Oil Co. which had to suspend its crude supply to Es Sider port. Mustafa Sanalla, Chairman of state-run National Oil Corp., said that Waha, a joint venture between the NOC, Hess Corp., Marathon Oil Corp. and ConocoPhillips, has resumed output and is pumping 60,000 bpd.
The conflict had shown signs of calming in recent months, boosting the output that has declined to 260,000 bpd a day back in August, according to Bloomberg.
Libya’s biggest oil field, Sharara, which is operated by Repsol SA., is expected to increase output by 70,000 barrels a day in a few weeks, from 221,000 barrels a day currently, the NOC said.
By Decypha Editorial Team
