Page 8 - AfrOil Week 34 2022

AfrOil PERFORMANCE AfrOil

NOC says Libya’s oil output

has returned to 1.211mn bpd

LIBYA LIBYA’S National Oil Corp. (NOC) said in a Nato-backed popular uprising that led to the
statement on August 22 that the country’s crude ouster of ex-president Moammar Qaddafi in
production had reached 1.211mn barrels per 2011. Two authorities currently exist in the
day (bpd), a level last seen before the oil port country: the first is the UN-backed Government
closures that began this spring. of National Unity (GNU) in the west, and the
NOC explained that output had increased self-styled Libyan National Army (LNA) in the
after the lifting of force majeure at production east, led by Khalifa Haftar.
sites and export terminals in mid-July, when NOC said this week the country’s crude pro-
the first tankers arrived in Libya to load oil for duction is expected to reach 2mn barrels per
export. The declaration of force majeure had day within the next three to five years, up from
severely crippled Libya’s crude exports. the current level of 1.2mn bpd, as oil produc-
Last month, Libya’s crude output hit a two- tion facilities restore their full working capacity
year low of 650,000 bpd as force majeure was and investments are made in increasing crude
implemented on loadings out of the Es Sider, production.
Ras Lanuf, Brega and Zueitina terminals, as well The projected increase in Libyan supplies
as production operations at the El-Feel and Sha- may ease some of the pressure on global oil
rara fields. prices, along with expectations that a nuclear
The return to higher production levels deal with oil-rich Iran can be reached. ™
occurred after nearly three months of inter-
mittent closures due to protests and political
struggles over control of governance, oil produc-
tion and exports, which are the country’s main
income source.
They also followed the replacement of NOC’s
long-time chairman Mustafa Sanalla with
ex-central bank governor Farhat Bengdara on
July 14 by the Tripoli-based government. (San-
alla has, however, refused to accept Bengdara’s
appointment.)
Meanwhile, armed clashes between rival
factions are continuing in the war-torn coun-
try. Libya has experienced no small amount
of chaos, violence and conflict since the Libya’s oil output is back at the highest level since spring (Image: Waha Oil Co.)

Luanda refinery’s new gasoline unit

reaches full production capacity

ANGOLA SONAREF, the refining subsidiary of Angola’s the state press agency ANGOP noted.
national oil company (NOC) Sonangol, reports Mayer indicated that the new unit was help-
that the Luanda refinery’s new gasoline plant has ing Sonangol achieve its goal of improving
reached full production capacity. domestic fuel supplies and reducing depend-
According to João Mayer, project co-ordina- ence on imported petroleum products. Because
tor at Sonaref, the gasoline unit is now capable of the rise in production, he noted, the Luanda
of turning out 1.58mn litres per day, up from refinery is now turning out enough gasoline to
its initial capacity of 395,000 lpd. Production cover 45% of national demand. Additionally,
capacity has ramped up quickly since June 7, he said, Angola has been able to cut gasoline
when the gasoline plant was inaugurated in a imports by 15% since bringing the new unit
ceremony attended by President João Lourenço, online.

P8 www. NEWSBASE .com Week 34 25•August•2022