Libya's oil production increases by 270,000 barrels per day

Oil production in Libya has increased by 270,000 barrels per day, a local source told Reuters on Thursday. The end of the blockade imposed on the oil industry ordered by Marshal Khalifa Haftar, who dominates eastern Libya, has allowed this North African nation, a member of OPEC, to increase its export capacity. The national oil company, NOC, had already announced that it expected production to rise to 260,000 barrels per day this week. This rise in production in Libya, added to the second wave of the pandemic that is taking place in Europe, has weighed down barrel prices, which are once again at around $40 per unit this week.  

The blockade, which began in January, caused Libya's pumping to fall from nearly 1.2 million barrels per day to scarcely 100,000. Export activity at three Libyan oil terminals such as Hariga, Zueitina and Brega has grown considerably. Brega is expected to export three shipments of 600,000 barrels in October, according to a loading programme to which Reuters has had access. 

At Zueitina, three tankers are expected to load crude oil Bu Attifel over the next ten days for the Austrian oil company OMV, the Spanish Repsol and the Italian refinery Saras, according to a local shipping agent. However, the data showed that Shell cancelled the provisional booking of the Amoureux vessel for loading in port. In Hariga, Unipec, the trading arm of China's Sinpoec, has already loaded 2 million barrels of Mesla and Sarir crude oil on board the Delta Hellas and Marlin Shikoku tankers. Both tankers show Singapore as their destination, according to Refinitiv. Exports at the Es Sider and Ras Lanuf oil terminals in Libya have not yet resumed. NOC have assured that they will only resume exports from the ports where the militants have abandoned their positions.