Libya Production Down

Thursday, June 14, 2018

Libya’s production flows are down due to a number of outages across the industry. The persistent field shutdowns coupled with budget constraints are contributing to a slowdown in oil production.

Exports from the Es Sider field also dropped, reflecting the effects of the damage to the pipeline feeding the terminal from the Waha oil field late-April. According to reports, the Elephant Oil field remains shut down, while high temperatures forced the Libyan state firm AGOCO company to lower output from its main fields in the Sirte Basin.

The drop in production stymies NOC’s ambitions to bring production up to over two million barrels by 2023.

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