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The key eastern export terminals of Ras Lanuf and Es Sider are resuming operations after a year-long hiatus, allowing for production at fields in the oil-rich Sirte Basin to ramp up. Libya’s NOC is hopeful for rapid gains, but with repairs needed and violence continuing, some in the country’s oil sector are doubtful.
Libya’s oil sector is defying continued political turmoil by advancing its recovery with a resumption of exports from terminals that last dispatched crude a year ago, paving the way for a production surge in the east of the country.
As rival militias continued to clash in Libya’s two main cities Tripoli and Benghazi – prompting the newly-elected parliament to call for international help – a tanker on 13 August loaded with 600,000 barrels of crude weighed anchor at Ras Lanuf, an oil port in the east of the country. (CONTINUED - 1794 WORDS)