Part of Libya's oil production to gradually recover

Foreign news on January 6, the media quoted Libya's National Oil Company (NOC) on Thursday as saying that emergency repair work on the oil pipeline was completed earlier than expected, which is expected to allow some of the country's oil production to gradually resume earlier
.


However, overall output will remain well below mid-December levels due to blockades in western fields
.
At present, the country's daily crude oil production is around 730,000 barrels
.


Libya's oil output plummeted to 780,000 barrels a day earlier this week after a pipeline carrying 200,000 barrels a day was shut down for maintenance, deepening supply disruptions caused by the blockade of four oil fields since late December
.


According to OPEC's latest monthly oil market report, Libya's crude oil production in November 2021 was 1.
14 million barrels per day
.


Libya's December 24 presidential election was postponed until January 2022, as the country's December crude oil production was again blocked
.


Oil production and exports in Libya have been relatively stable in recent months, and the country plans to ramp up crude output
.
Crude oil production is an important source of income for the country, but the distribution of oil revenue is also a point of contention
.


But chaos and clashes resurfaced as the December 24 presidential election loomed, with armed factions again blocking oil production
.


Libya declared force majeure on its oil exports on December 20 after crude production at four of the country's oil fields, including the largest 300,000 bpd El Sharara field, was shut down
.
Other closed fields include El Feel, Wafa and Hamada fields
.
According to the Libyan National Oil Company, members of the Oil Facility Guard tasked with protecting the fields shut them down
.
The Oil Facility Guard reportedly closed a valve on an oil pipeline from Sharara to the port of Zawiya, and another from Wafa to Mellita
.