Libya’s oil exports from the Mellitah terminal will be “modified” after protests disrupted production at the key El-Feel deposit for the first time in two months, putting the OPEC nation’s crude production at risk of a decline again
Source: Bloomberg – Production at El-Feel, operated by a joint venture of NOC and Italy’s Eni SpA, was last disrupted for one day in December due to a power outage. The field has production capacity of 90,000 barrels a day but it’s not clear what output was before the latest disruption. NOC officials didn’t respond to phone calls seeking comment. Libya, a member of OPEC, was allowed to increase oil production while other nations in the group cut output to curb a global glut. The North African nation’s output earlier this month was 1.1 million barrels a day, the highest since June 2013, a person familiar with the matter said. Oil finished a second week of gains on Friday after news that El-Feel was shut and American supplies drained. Brent was little changed at $67.33 a barrel by 11:42 a.m. in Dubai
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