Libya Unable to Issue Sept Crude Forecast

Libya’s National Oil Corporation (NOC) has told its customers that it could make no promises on crude oil deliveries next month as on-off strikes paralysed its major sea terminals, according to a report from Reuters.

NOC Chairman Nuri Berruien [Nuri Balrwin] told the news agency that the September schedules “will be modified, not cancelled...because of the current sit-ins at ports and fields.

Unrest at Libya’s oilfields and ports has cut output to the lowest since the 2011 war that overthrew Muammar Gaddafi, and some analysts say it is well below 500,000 bpd, compared with 1.3 million bpd in June.

The country’s two biggest crude export terminals, Ras Lanuf and Es Sider, were closed again on Monday just hours after they had reopened following a two-week stoppage.

(Source: Reuters)

No comments yet.

Leave a Reply