Will rising Libyan oil production ruin the Opec deal?
Exempt from the cuts, the country could still help decide their success or failure
Libyan oil production has tripled since September, when the Tobruk government's forces captured key oil ports in the Sirte basin. Exempt from the Opec cuts agreed in November, Libya could add much more supply in the coming months - but growth will depend on the country's civil conflict. Further disruptions are possible too. Output in early January was around 0.7m barrels a day, compared with just 290,000 b/d in August. The sharp rise was possible only after the Libyan National Army (LNA) ousted the Petroleum Facilities Guards from the key Sirte basin oil ports of Es-Sider (with a capacity of 447,000 b/d), Ras Lanuf (220,000 b/d) and Zueitina (200,000 b/d). The PFG, ostensibly allied with the
Also in this section
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results
