Monday, 12 May 2014

WSJ: Libya's Western Oil Fields and Pipelines Restarted

      The WSJ reports,"Libya's oil production is set to double with the reopening of western oil fields and pipelines Monday after an eight-month blockade by protesters.
Exports from two eastern ports resumed when protesters ended their occupation of the facilities after coming to an agreement with the government.
Mohamed al-Harari, a spokesman for the state-owned National Oil Co., said Monday that flows had resumed from major oil-producing fields of El Sharara, El Feel and Wafa and the pipelines linking them to the Zawiya exports terminal.
The fields, which are operated by Spain's Repsol SA and Italy's EniWSJ SpA, together produce 500,000 barrels a day. Before their resumption, Libya's output stood at 250,000 barrels a day, a fraction of its normal level of 1.5 million barrels a day.
Local protesters stopped blocking the pipelines following promises to meet their demand for better investment in water distribution, according to press reports.
Last month, rebels demanding more local autonomy in eastern Libya also allowed the resumption of two export terminals following an accord with the central government.
But those rebels now are threatening to cancel the agreement after opposing the appointment of a new Islamist-backed prime minister".

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