Last week, we reported that Libya's crude oil output fell as political tensions caused significant disruptions in the region. Throughout July, fighting and tensions in Libya caused production to drop, with force majeure declared at the Ras Lanuf facilities.
An attack in June—in which four employees were kidnapped from the Sharara field—highlighted the rising tensions in the region. The resolution of the kidnapping at Sharara happened during the time that Elephant field came back online, causing the production to return at the two fields in July.
In the weeks following the attack, Kayrros measured a significant drop in Libyan crude oil production, including an increase in offline tanks. The problem with the storage tanks was exacerbated when fighting broke out in mid-July, with the damage captured by Kayrros satellites.
Despite a month-on-month decline in production following June's attacks, recent Kayrros monitoring shows that activities may be taking a different turn.
This week, Kayrros measured that lost production in Libya lowered with the restart of the Amal field on August 13. This marks the lowest levels in disruptions in the country since February 2018. Kayrros will continue to monitor Libyan production in the coming weeks amid ongoing political tension in the region.