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.

 Top stories
Another 10,000 fled Mosul after ISIS took control at the beginning of June and numbers dropped have fallen rapidly since.
The announcement comes just two days after President Abdullah Gül confirmed that he would not seek a second term.
In the report, the Observatory said its activists on the ground have the names of 5,641 rebels who have been killed in infighting.
Both polls have Selahattin Demirtas, the expected candidate for Turkey's main pro-Kurdish party, on less than 10 percent.
Partner news
Soghomon Tehlirian assassinated Talaat Pasha on March 15, 1921

Operation Nemesis was a covert operation by the Armenian Revolutionary Federation carried out from 1920 to 1922, during which a number of former Ottoman political and military figures were assassinated for their role in the Armenian Genocide.