Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Libya's oil output down to less than 125,000 b/d amid terminal blockade: NOC

Commodities | Energy | Oil | Crude Oil | Oil Risk | Coronavirus

A new benchmark for American crude to move on from a negative experience

Oil

Platts Market Data – Oil

Capital Markets | Commodities | Oil | Crude Oil | Refined Products | Fuel Oil | Gasoline | Jet Fuel | Naphtha | Marine Fuels | Equities | Financial Services | Banking | Non-banks | Private Markets

North American Crude Oil Summit, 3rd annual

Oil | Crude Oil

IRAQ DATA: Oil output fell 9% in June but was still above OPEC+ quota

Libya's oil output down to less than 125,000 b/d amid terminal blockade: NOC

Dubai — Libya's oil output is down to less than 125,000 b/d, a drop of more than 90% since the Libyan National Army imposed a blockade on the country's five export terminals on January 18, according to a tweet Wednesday by the state-run National Oil Corp.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

The OPEC member's production was down to 123,537 b/d on February 17, compared with 1.22 million b/d before the blockade, NOC said in a public information bulletin posted on Twitter. The total cumulative loss amounts to 29.4 million barrels, or $1.74 billion, the company said.

NOC Chairman Mustafa Sanalla has warned that output would plummet to just 72,000 b/d "very soon" if the LNA blockade continued. The self-styled LNA has been jostling for power with the UN-backed Government of National Accord.

NOC has declared force majeure on exports from five key export terminals that were shut by the LNA, which controls Libya's oil and gas infrastructure but lacks control over the sale and distribution of revenue.

LNA vs GNA

The LNA, which is backed by Russia and other countries, and the GNA, led by Prime Minister Fayez al-Serraj and supported by Turkey, have clashed since April 2019, impacting the oil industry.

The LNA, led by General Khalifa Haftar, has been trying to take over Tripoli from the GNA. Haftar's big ambition has been to gain access to Libya's oil revenue, which currently goes to the country's central bank in Tripoli under the jurisdiction of the GNA.

The last time the LNA held the key oil terminals hostage was in June 2018 when the shutdown lasted 16 days.

Libya has Africa's largest proven reserves of oil and its crude is coveted because it is light and sweet.