Port Blockade to End; NOC aims for 900,000 bpd

By John Lee.

The National Oil Corporation (NOC) said on Sunday it welcomed the "unconditional" reopening of the blockaded oil ports of Ras Lanuf, Es Sider, and Zueitina.

The move follows a deal between the Government of National Accord (GNA) and the Petroleum Facilities Guard (PFG).

The National Oil Corporation (NOC) also welcomed fresh funding from the government that would allow it to increase production by 150,000 bpd within two weeks, adding that it plans to gradually increase production to 900,000 bpd by the end of the year.

According to Bloomberg, the move may triple production, but only once blockades on the oil fields that supply the ports are lifted.

(Sources: NOC, Reuters, Bloomberg)

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