Libya Oil Output Drops Below 500,000 b/d

Political splits that have re-emerged in Libya in recent weeks threaten to derail recent progress and hamper crude production increases.

After a brief surge early in the year, Libya’s fortunes appear once more to be on a downward trajectory. The Sharara oil fields, the biggest producers in the country, came onstream briefly in early April before Tripoli’s National Oil Corporation (NOC) again declared force majeure. Gas and condensate output from the Eni-operated Wafa field is also shut in.

The prospect of maintaining 700,000 b/d of liquids production, let alone the 1.1mn b/d NOC is targeting for August, is increasingly remote. Output reached 693,000 b/d on 6 April and 703,000 b/d on 9 April before dropping to about 490,000 b/d the following day. (CONTINUED - 858 WORDS)


chart Libyan Gas Exports (Mn Cfd)*: Vol Umes Continue To Flo Under In April