Libyan Oil Production Rises to 700,000 Bpd

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Libya’s daily crude output has surged from less than 100,000 barrels in early September, to almost 700,000 as of Monday, Bloomberg reported on Tuesday.

The National Oil Corporation (NOC) expects the country to be pumping more than 1 million barrels a day, by mid-to late-November.

Field Marshal Khalifa Haftar announced the resumption of oil production and export “as long as funds are not used to finance terrorism.”

Bloomberg confirmed that eight tankers will load around 630,000 barrels each, in November from the port of Zawiya. The Sharara field is set to export at least 5.04 million barrels of crude, to the port. The tankers ‘Ottoman Nobility’ and ‘Seagrace’ are scheduled to load crude by the end of October, for ‘Total SE’ and ‘Vitol Group’, respectively.

It noted that the El-Feel field is now pumping at its full capacity of 75,000 bpd, and added that a vessel with a capacity of 1 million barrels was set to arrive on Tuesday, to the port of Ras Lanuf.