Three Libyan oil terminals at Hariga, Brega, and Zueitina have resumed operations after some eight months of blockades by allies of Khalifa Haftar’s Libyan National Army.
Libya’s National Oil Corporation (NOC) lifted the force majeure on the oil terminals, now considering them safe, and said it would resume production from certain fields and some exports of crude oil.
NOC said that production nationwide will more than double by next week to 260,000 barrels a day. Alphatanker, part of AXSMarine, estimates that Libyan crude production could potentially ramp up to 400,000 barrels per day within a matter of weeks and could reach pre-blockade levels of 1m barrels per day within six months.
However, some of the nation’s most import oil export hubs remain closed. According to a notice posted by Med Wave Shipping Agency in Libya, major ports in the country including Es Sider, Zawiya and Ras Lanuf are still closed and under force majeure.
Shipbroking house Lorentzen & Stemoco reported that two Unipec-chartered suezmax tankers, Marlin Shikoku and Delta Hellas, have arrived at Hariga this week to load crude oil.
“More Suezmax and Aframax tankers are expected to arrive in Libya, as production will rise to nearly nearly 0.3 mbd from next week. This will bring more activity to the Eastern Mediterranean, and help revive the mid-sized crude oil tanker segments,” Lorentzen & Stemoco said in a note to clients today.