Oilfield flows resume to Libya's Es Sider port despite raging conflict


Libya's largest oil port Es Sider is now receiving supplies from oil fields, with Waha Oil Co. supplying 22K bbl/day after oil in storage at the port started to be shipped last week, ending a year-long stoppage.

Libya's oil production has jumped to more than 600K bbl/day, 4x the level in late May, as the country's oil industry steadily recovers despite fighting between rival militias in the capital of Tripoli.

Waha Oil is a partnership between Libya's National Oil Co. and U.S. companies Marathon Oil (NYSE:MRO), Hess (NYSE:HES) and ConocoPhillips (NYSE:COP).

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Comments (3)
  • BAHAMAS1
    , contributor
    Comments (5157) | Send Message
     
    Yes...COP !
    29 Aug 2014, 09:04 AM Reply Like
  • User 353732
    , contributor
    Comments (5161) | Send Message
     
    No matter who is in power, oil and gas exports are essential to generate the money that maintains power.
    Wars and rumors of war only infrequently and temporarily disrupt flows even though they do ravage specific companies.

     

    We are in an era where the geo strategic risk to the market and consumers is much lower than to specific companies and producers. Perhaps this is why the volatility in company fortunes and shares is so much greater than it is in the price of crude, NGLs and spot LNG.
    29 Aug 2014, 12:01 PM Reply Like
  • 11146471
    , contributor
    Comments (1373) | Send Message
     
    I went with Google earth to this "Es Sider" port town (As Sidr is the name used in Google Earth) and found nothing close to an oil exporting terminal. Just a small desert village.

     

    Are you sure that this is the "largest" oil terminal in Libya?
    29 Aug 2014, 12:36 PM Reply Like
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