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Libya oil field’s halt disrupts crude exports from key port

Energia Petrolio Gas JIACC

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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