Let there be oil! Libya’s National Oil Corporation (NOC) on 10 July announced a country-wide restart of oil exports, lifting force majeure from all of its export terminals. MEES understands NOC is now preparing to bring back production from a swathe of key fields – so long as the situation doesn’t deteriorate again.

NOC “has lifted force majeure on all oil exports from Libya,” the firm said, as the ‘Kriti Bastion’ Aframax tanker loaded up with around 730,000 b/d crude from the Waha Oil Company-operated Es Sider port to take to Eni’s Porto Marghera refinery in Italy. The volumes to be exported are from storage rather than fresh production. However, a source at Waha tells MEES the firm aims to bring limited production online as early as next week. (CONTINUED - 506 WORDS)