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Libya’s Largest Oil Ports Seized

Oil

Libya’s largest oil export terminals Es Sider and Ras Lanuf, which have a combined export capacity of 560K b/d, have been affected by increased fighting and the facilities appear to have been seized by a rival faction, neswires report. The ports had previously been under force majeure since 2014 as a result of blockades and protests at the sites but were reopened in late 2016 after being captured by East Libyan forces in September. Libya’s oil output had risen from around 300K b/d in August to almost 700K b/d by January, according to International Energy Agency data, and Libya’s state-oil firm the NOC had said that it expected to raise production to 1.2M b/d by 2H17. However, the latest unrest could limit further output growth.