Libya’s crude output was set to return to 1.2mn b/d after nearly 400,000 b/d of production capacity began to ramp up again this week following a 20-day blockade by an armed group. However, bad weather at export terminals continued to weigh on production due to a lack of storage capacity.
National Oil Corporation (NOC) lifted force majeure on the Repsol-led 300,000 b/d El Sharara fields, Eni’s 70,000 b/d El Feel and 20,000 b/d Wafa gas-condensate fields on 11 January, citing a “substantial improvement in the security situation.” (CONTINUED - 259 WORDS)
