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Libyan Operations Slowed Further on Monday

OIL

Libya National Oil Corp (NOC) declared force majeure at its 70,000 bpd El Feel oil field from September 2 it said on Monday.

  • Libya's El Feel oilfield is "now undergoing major maintenance that will take time", Reuters sources said on Monday.
  • Oil exports out of major Libyan ports were also halted on Monday according to Reuters sources.
  • Exports remained halted at the ports of Es Sidra, Ras Lanouf, Hariga, Zueitina, Brega and Sirte they said.
  • Some output was being increased to feed local power generation but not for the export market.
  • NOC said on Thursday that total production had slumped to just over 591,000 bpd by Aug. 28 from nearly 959,000 bpd on Aug. 26.
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