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Libya's Oil Production Rises

Libya's Oil Production RisesLibya's Oil Production Rises

Libya’s oil production has been holding at around 1 million barrels per day for the past couple of weeks, rising slightly this week thanks to higher production at two small oilfields in the east, S&P Global Platts reported on Friday, citing sources and a spokesman for a western company.

Harouge Oil Operations, a joint venture of Libya’s National Oil Corporation and PetroCanada, has increased production at the Amal Oilfield to 25,000 bpd in recent days, up from just 8,000 bpd pumped in July and August due to maintenance, the sources told Platts.

Germany’s Wintershall resumed production at the 50,000-bpd As-Sarah Oilfield at the end of August, with a gradual output hike. “Production volumes are still depending on availability of external export pipelines and capacity of loading terminals,” a spokesman for Wintershall told Platts.

Both the Amal and As-Sarah oilfields ship crude from the Ras Lanuf Terminal, whose storage tanks were badly damaged during the attack on Libya’s Oil Crescent in June that crippled the country’s oil production and exports in June and July.

The crude oil storage capacity at Ras Lanuf has been reduced following the attacks and the lower storage capacity could constrain oil exports.

 

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