Libya Output Nears 500,000 B/D; Can The Gains Continue?

Libya’s oil production has increased to almost 500,000 b/d following the resumption of exports from the Ras Lanuf terminal on the coast of the Sirte basin in the east of the country, according to the state oil chief.

Output has risen to 485,000 b/d, Mustafa Sanallah, head of Tripoli-headquartered National Oil Corporation (NOC), told reporters at Opec’s extraordinary meeting in Algiers on 28 September. NOC announced on 15 September it was lifting force majeure on the 250,000-b/d Ras Lanuf terminal, along with those at Es Sider (450,000 b/d) and Zueitina (250,000 b/d). The decision followed the capture of the terminals by the Libyan National Army (LNA), a group of militias commanded by Khalifa Haftar (MEES, 16 September). (CONTINUED - 1183 WORDS)