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Thursday, November 26, 2020

Oil production in Libya has reached 1.1 million barrels./day

The country increased production at the expense of growth in the largest oil fields, including the El Sharara and El Waha.

Tripoli, 11 Nov – IA Neftegaz.RU.Oil production in Libya almost recovered to deblocarea level and at the moment has exceeded 1.1 million barrels./day
This was reported by Bloomberg.

As a result, Livi came close to the levels recorded before hostilities had virtually paralyzed the oil industry in the country in January 2020.

Libya produced about 1.2 million barrels./day oil to the blockade of the oil infrastructure for military operations.

The country increased production at the expense of growth in the largest oil fields, including the El Sharara and El Waha.

7 Nov 2020 national petroleum Corporation (National Oil Corporation, NOC) of Libya has officially confirmed that oil production in the country reached 1 million barrels./day.

The recovery of production in Libya, which has the largest oil reserves in Africa, will put further pressure on world prices and will be another test for agreement OPEC+.

The head of NOC M. Zanella 2 Nov 2020 announced intentions to increase production to 1.3 million barrels./day, when it is noted that to stabilise production at this level will be difficult.

Libya during a military conflict received an exception from the transaction OPEC+, and, according to M. Canalli, the country intends to accede to the quota as long as it does not stabilize production at the level of 1.7 million barrels./day.

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