Libyan crude oil output set to rise as two major oilfields reopen

Oil

Libya’s National Oil Corporation (NOC) has restarted production at the Sharara and El Feel oilfields, Reuters reports. The NOC had declared force majeure on the oilfields in January due to a military blockade which had shut off much of Libya’s production. In April, Libyan production had fallen to 80K b/d, down from an average of 1.09M b/d in 2019. Output at the Sharara oilfield will start at 30K b/d and is expected to reach full capacity of 300K b/d within 90 days, whereas the El Feel oilfield will start production at 12K b/d and aims to reach full capacity of 70K b/d within 14 days.