Libya expected to export 1.29 mln bpd of crude in May

Libya expected to export 1.29 mln bpd of crude in May

PanARMENIAN.Net - Libyan crude oil exports are expected to amount to 40 million barrels in May, or 1.29 million barrels per day (bpd), a senior official at Libya's state-owned National Oil Corporation (NOC)said on Monday, April 16, according to Reuters.

NOC plans to sell 30 million barrels, while firms that receive oil for investing in Libyan production are expected to take 10 million barrels.

The May exports are on par with April's, also expected to be 40 million barrels, or 1.33 million bpd when divided over a smaller number of days in the month. NOC is selling a greater share in April at 34 million barrels, however, while firms with an equity interest are taking 6 million barrels.

The restart date of Libya's largest refinery, Ras Lanuf, is still uncertain, awaiting higher production by NOC subsidiary Agoco from the Sarir and Messla fields, which currently account for 200,000 bpd out of Agoco's total output level of 324,000 bpd.

Total Libyan crude oil production is averaging 1.484 million bpd, according to the official.

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