Libya Boosts Oil Output At Biggest Field

17 Aug 2017   Libya

Crude oil output at Sharara–the biggest field in Libya, which is exempt from OPEC cuts–rose to 230,000 bpd on Tuesday—a 30,000 bpd increase just since Sunday, Bloomberg reports , citing an unidentified source familiar with the issue. In another boost to Libyan oil exports, the Zueitina oil terminal resumed loading, Merhi Abridan, head of the Zueitina workers’ union, told Bloomberg. The Zueitina oil terminal had ceased loading cargos on Sunday, as port workers protested, demanding better working conditions. This meant that oil coming from the fields around Zueitina was to be stored at the port for the duration of the protest, and a spike in exports would likely follow. As of Sunday, Bloomberg sources claim that Sharara’s output had fallen by 100,000 bpd over the past week, to 200,000 bpd. There had been an incident involving the theft at gunpoint of two vehicles property of Repsol, the company operating […]

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