Libya expects to resume oil exports from Es Sider port within days

Libya expects to resume oil exports from the Es Sider port within the next few days, after the key terminal remained closed for nearly a year due to protests, Reuters reported on January 8, quoting a senior official at the National Oil Corporation (NOC).

Es Sider is one of Libya’s largest oil export terminals. Located in the Sirte Basin, the port is primarily known as Libya’s largest oil export terminal and a critical hub for the Waha Oil Company, a joint venture between NOC, TotalEnergies (NYSE/LSE:TTE), and ConocoPhillips (NYSE:COP).

The facility serves as the main outlet for crude produced from several major inland fields, including Waha, Samah, and Dahra, with a total export capacity reaching approximately 447,000 barrels per day (bpd).

The restart of exports from Es Sider is expected to provide a significant boost to the OPEC member’s oil sector. The move follows the lifting of a blockade on major export ports, after a tanker departed Ras Lanuf earlier this week. This marked the first shipment from the port since the restrictions were eased.

The official said Libya’s current oil production stands at around 400,000 bpd, down from 450,000 bpd a week earlier. The decline was attributed to maintenance work at the offshore Al-Jurf field, which temporarily reduced output.

Oil exports are Libya’s main source of state revenue and foreign currency, making the reopening of Es Sider critical for stabilising public finances and supporting economic recovery. A sustained resumption of exports from the eastern ports could help restore production levels, provided security conditions and labour relations remain stable.