Libyan Oil Output Gains Go Into Reverse Amid Growing Instability

Another week, another swing in Libyan crude output, this time downwards. Recent attacks on, and disruptions to, oil infrastructure suggests that anyone who thought recent gains were here to stay was kidding themselves.

The rollercoaster ride of Libya’s crude oil production took a sharp dip in late March with the closure of the Repsol-operated Sharara fields (NC-115 and NC-186), the country’s largest oil producing concession, and the Wafa wet gas field in the Ghadames basin near the Algerian border. Overall output dropped by 252,000 b/d according to reports citing NOC officials.

Production had rebounded to more than 700,000 b/d in the third week in March following a drop of 100,000 b/d earlier in the month (MEES, 24 March). NOC said on 21 March that it had plans to increase output from Sharara by 70,000 b/d from 221,000 b/d in the weeks to come. The fields, which had pre-revolution capacity of 340,000 b/d, resumed production in December (see chart MEES, 24 March ). (CONTINUED - 2048 WORDS)

DATA INSIDE THIS ARTICLE

chart Libyan Gas Exports (Mn Cfd)*... Volumes Started 2017 Strongly, Fell In Late January, And Collapsed To Just 110mn Cfd On 28 March
chart Sharara Crude Output (‘000 B/D)