ENERGY

Libya’s NOC: Western pipelines reopened, expects 270,000 bpd boost in 3 months

Libya’s National Oil Corporation said on Tuesday that pipelines leading from the western fields of Sharara and El Feel had been reopened. (File Photo: Reuters)

Libya’s National Oil Corporation said on Tuesday that pipelines leading from the western fields of Sharara and El Feel had been reopened after a two-year blockade, paving the way for a major boost to production.

The NOC said in a statement that it expects to add 175,000 barrels per day (bpd) to national production in the next month, and 270,000 bpd over the next three months.

Libya’s oil production has been hammered by conflict and political disputes over the past three years. National output recently doubled to 600,000 bpd, but remains far below the more than 1.6 million bpd the OPEC member was producing before its 2011 uprising.

Any speedy return of Libyan output could slow OPEC efforts to rebalance the market and ease the global supply glut. Libya is one of two countries exempted from a recent OPEC pledge to cut oil production by about 1.2 billion bpd during the first half of 2017.

However, Libyan production remains vulnerable to the North African country’s continuing political turmoil, and blockades by local groups.

The NOC did not say whether agreements had been struck with armed groups that control Sharara and El Feel and have in the past halted production.

A deal to reopen valves on pipelines from Sharara and El Feel in the northern town of Rayana had initially been announced last week by a local faction of Libya’s Petroleum Facilities Guard (PFG). But officials at El Feel said a separate group of guards, from the Tebu ethnic group, were preventing a restart there.

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Last Update: Tuesday, 20 December 2016 KSA 20:42 - GMT 17:42
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Libya’s NOC: Western pipelines reopened, expects 270,000 bpd boost in 3 months
Libya’s National Oil Corporation said on Tuesday that pipelines leading from the western fields of Sharara and El Feel had been reopened
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