Libyan Oil Output Is Set to Rebound as Biggest Field Restarts
- Sharara field pumped 234,000 b/d before forced halt on Oct. 1
- NOC lifts force majeure, sees output at 1 million b/d in days
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Libya’s oil output, hampered by sporadic shutdowns at fields and ports, is on track to resume its recovery as the OPEC nation’s biggest crude deposit started pumping after a three-day forced halt.
The Sharara field re-opened on Wednesday and is restoring production, the state producer National Oil Corp. said on its website. NOC lifted force majeure at the field as of Wednesday and is able to resume delivering Sharara crude to customers, it said in an emailed statement. NOC Chairman Mustafa Sanalla said Monday on Libya TV that the nation’s daily output will reach 1 million barrels within days of the field’s re-opening.