AfrOil: Libyan oil production sinks by 330,000 bpd

Libya’s oil production has reportedly sunk by about 330,000 barrels per day (bpd) following the shutdown of two major sites: Sharara, the country’s biggest oilfield, and El Feel. Sharara usually yields around 270,000-300,000 bpd of oil, while El Feel produces up to 70,000 bpd but may have been operating below full capacity when production stopped on March 3.

The disruption has probably brought Libyan oil output, which was reported to be at 1.2mn bpd as of the end of February, down to about 900,000 bpd. It is also costing the country more than LYD160mn ($34.67mn) per day, according to an official from National Oil Corp. (NOC).

Additionally, the shutdowns are certain to affect Libya’s output of refined petroleum products. Crude from Sharara is a key source of throughput for the 120,000 bpd Zawiya refinery, and NOC’s chairman Mustafa Sanalla said on March 6 that the stoppages were “making it impossible” for his company to meet its fuel supply commitments.