Opinion

Production in Libya Continues to Increase as Geopolitical Pressure Eases

Posted by Kayrros

20-Sep-2018


Libyan oil output recovered in August as security concerns from the fighting between the Libyan National Army (LNA) and the Petroleum Forces Guard (PFG) grew. There were reports another push would be made by the PFG for control over the Sirte basin and the Ras Lanuf and Es Sider ports in late August or early September. Infrastructure damage appears to have been avoided. Fighting between the LNA and the PFG in June left four tanks on fire in Ras Lanuf and caused the government to declare force majeure.

Kayrros measurements show production in Libya increased by 32% in August, while the fragile security situation in the country continues to threaten the recovery. There was an assault on the National Oil Corporation's headquarters at the beginning of the month, but the fighting did not cause any of the production or exports to be taken offline. Kayrros daily field monitoring shows activity remained undisturbed in Libya as of September 11.

Kayrros measurements also show an increase in exports for the month. Exports increased by over 50% in August, showing a month-on-month surge. Inventories also registered a large build, bringing the total stock to close to a million barrels for August. The reopening of the Sharara field was largely responsible for the build as inventories at Zawiya which serve the field accounted for 85% of the month-on-month increase. Eastern stocks remained relatively unchanged as a build in Brega was offset by a draw in Zuetina.



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LibyaZawiyaShararaOilOil and GasProductionincreased productionGeopoliticsgeopolitical

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