Libya Oil Production Recovering

Argus reports that Libya’s crude oil output has begun to recover toward levels seen at the beginning of April, shortly before a stand-off between the country’s rival governments led to a drop in production and a halt in exports from the eastern Marsa el-Hariga terminal.

An official from the Arabian Gulf Oil Company (AGOCO) said production from the Messla and Sarir oil fields has risen from around 90,000–100,000 barrels per day (bpd) to around 175,000 bpd in recent weeks.

This is still below around 230,000 bpd at the beginning of April, when total Libyan production was around 340,000–360,000 bpd. Current AGOCO production levels would place total Libyan crude output at around 300,000 bpd.

AGOCO said it expects to return to production of 230,000 bpd next month, but said it does not yet expect it to rise above this level.

(Source: Argus)

One Response to Libya Oil Production Recovering

  1. Dr Satya P.Bindra May 24, 2016 at 5:51 pm #

    UNCSD Rio+20 Focal Point hails return to production of 230,000 bpd next month, and wishes to rise above this level to target 1.5 mbpd .

Leave a Reply