Friday, 20 May 2022
WorldLibyan oil exports hit 18-month low

Libyan oil exports hit 18-month low

Oil exports from Libya fell to their lowest level in 18 months after the closure of the country’s key oil fields and ports.

According to Bloomberg, in March Libya exported 979 thousand barrels of oil, and in April – 819 thousand barrels of oil per day.

Most of the oil exports went to Italy, Spain and China.

The latest data points to the lowest export data since October 2020.

On April 17-18, the Libyan National Oil Company (NOC) declared force majeure at the El Fil and Ash Sharara oil fields in the south of the country, as well as in the ports of Zeitouna and Brega in the east, announcing the suspension of production and export.

The company announced on May 1 that the “force majeure” in the port of Zeytun was lifted in order to prevent a possible environmental disaster.

Al-Sharara, with a production capacity of 300 thousand barrels of crude oil per day, is known as the largest oil field in Libya. The El-Fil field produces about 125,000 barrels of oil daily.

The ports of Marsa el Brega, Ras Lanuf, Zeitouna and Es Sidr account for more than 60 percent of Libya’s oil exports.

. only a part of the news in a short form, . . (HAS) of AA.

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