Libya resumes oil production at key fields

Libya

TRIPOLI, October 3, 2024 – Libya has brought hundreds of thousands of barrels back on line and reopened export terminals after its eastern-based government resolved a dispute, Reuters reported on Thursday.

Production at key fields such as the 300,000-bopd Sharara field and the 70,000-bopd Elfeel field was halted last year amid a dispute over the leadership of the country’s central bank. The Essider field was also shuttered.

Output at Sharara was estimated at 260,000 bopd before the shutdown.

The country was producing around 1.2 million bopd prior to the shutdown, which sent output spiralling to 450,000 bopd.

Output at Elfeel will likely be delayed further due to technical problems, Reuters cited engineers at the field as saying.