The Address | Benghazi – Libya
VIENNA – Libya plans to maintain its crude production at current levels of between 1.25 million and 1.3 million b/d, the head of the country’s state oil company said, with the El Feel field operational again after a brief disruption last week.
El Feel was producing 73,000 to 75,000 b/d, below its 90,000 b/d capacity, Libyan National Oil Corporation chairman Mustafa Sanalla said on arrival in Vienna ahead of Thursday’s OPEC meeting.
“Because of political problems, we have issues [and] we are very keen to keep our current production levels,” Sanalla told reporters. “We need every penny.”
Sanalla would not comment on whether OPEC and its allies should extend or deepen their 1.2 million b/d production cut agreement, which is scheduled to run through March.
Libya is exempt from the deal, due to its volatile security situation as it tries to rebuild amid a power struggle between groups vying for control of the country.
Air strikes forced the shuttering of El Feel for a day last Wednesday, with the Libyan National Army clashing with a militia force loyal to the UN-backed government that had seized the field.
Libya’s crude output averaged 1.04 million b/d over January-October, compared with 948,333 b/d in 2018 and 807,500 b/d in 2017, according to S&P Global Platts’ survey of OPEC production.
S&P Global Platts