Tag Archives: Libya

Clashes had already forced the NOC to suspend operations at the two other ports. slashing output by 450.000 bpd.

The European Union said it is going to oppose any attempt to sell or purchase Libyan oil outside the official channels managed by NOC.

The move would cause an output loss of 350.000 barrels per day.

Traders said prices were mostly driven up by uncertainty around oil exports by Libya.

US West Texas Intermediate crude futures was 35 cents higher at $68.43 a barrel.

Libya’s national oil production has dropped to between 600.000 and 700.000 bpd due to the closure of the ports.

Libya has lost 450.000 barrels per day (bpd) of oil production due to clashes at the oil terminals of Es Sider and Ras Lanuf.

Libya has been torn apart by conflict since its long-time leader Muammar Gaddafi was overthrown in 2011.

Libya has descended into chaos following a 2011 uprising that toppled a longtime ruler.

Reports indicate that the Aframax tanker Minerva Lisa was due to pick up oil at Es Sider Thursday.