Libyan oil production rises to 290,000 bpd -source

Commodities & Futures
© Reuters. A view shows an oil tanker leaving the Zueitina oil terminal, after oil exports resume in Zueitina © Reuters. A view shows an oil tanker leaving the Zueitina oil terminal, after oil exports resume in Zueitina

By Ahmad Ghaddar

LONDON (Reuters) – Libyan oil production has risen by about 20,000 barrels per day (bpd) from last week to reach 290,000 bpd as exports ramp up, a Libyan oil source told Reuters on Monday on condition of anonymity.

The easing of a blockade by eastern forces has allowed the OPEC member to ramp up exports with the reopening of the Marsa El Hariga, Brega and Zueitina terminals.

Exports have yet to resume from the Ras Lanuf and Es Sider oil terminals.

The National Oil Corporation (NOC) said it would only resume operations at oilfields and terminals where militants had vacated their positions.

The blockade, which began in January, reduced Libya’s output from more than 1.2 million bpd to around 100,000 bpd.

The Episkopi oil tanker loaded a 600,000 barrel crude cargo for Austria’s OMV (VI:) at Zueitina over the weekend and departed for Italy on Sunday, a local shipping agent said.

The port is expected to export 3.8 million barrels this month.

NOC subsidiary AGOCO last week said it had resumed operations at the Hamada oilfield, with crude from the field expected to be pumped to the 120,000 bpd Zawia oil refinery.

AGOCO, on its Facebook (NASDAQ:) page on Oct. 3, said operations had resumed at its 10,000 bpd Sarir oil refinery.

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