LIBYA: Al-Sedr oil port resumes operations with the first oil exports in months after the terminal stopped running during a civil war that ended Muammar Gaddafi's rule

Record ID: 344406

  • Title: LIBYA: Al-Sedr oil port resumes operations with the first oil exports in months after the terminal stopped running during a civil war that ended Muammar Gaddafi's rule
  • Date: 5th January 2012
  • Summary: AL-SEDR PORT, NEAR RAS LANUF, LIBYA (JANUARY 2, 2012) (REUTERS) VEHICLES DRIVING THROUGH AL-SEDR OIL PORT IN EAST OF LIBYA FLOATING OIL TERMINAL LIBYAN FLAG VARIOUS OF DAMAGED OIL PIPELINES IN OILFIELD OIL ENGINEERS AND WORKERS STANDING NEXT TO OIL PIPELINE THAT BEEN REBUILT MORE OF REBUILT PIPELINE (SOUNDBITE) (Arabic) AHMED AMMAR, HEAD OF THE MANAGEMENT COMMITTE
  • Embargoed: 20th January 2012 12:00
  • Keywords:
  • Location: Libya, Libya
  • Country: Libya
  • Topics: Business,Industry,Energy
  • Reuters ID: LVAC24S03MP2UQ4J8YARWYP997NN
  • Story Text: Libya's al-Sedr oil port has resumed operations and has seen the first oil shipment set sail, an official from the Oasis Oil Company said on Monday (January 2), months after the terminal stopped running during a civil war that ended Muammar Gaddafi's rule.
    Al-Sedr oil port had stopped exporting oil since March 9, 2011 after being attacked by Gaddafi forces during the civil war following the February 17 uprising. The last Gaddafi-era export was 704,911 barrels and was destined for Italy.
    Waha Oil, which manages the port, is owned by Libya's National Oil Corporation (NOC) in a joint venture with U.S. firms ConocoPhillips, Marathon and Amerada Hess.
    Ahmed Ammar, head of the Management Committee at the Oasis Oil Company told Reuters that the oil port was able to resume operations despite the devastation caused by Gaddafi's bombardments of the port.
    "The facilities of the port were destroyed... Some of the oil reservoirs were entirely destroyed as well," Ammar said.
    He added: "Today we were able to receive the first ship and we were able to export the first shipment of crude oil via al-Sedr port despite the difficulties that faced the crew."
    Another official said on Sunday (January 1) a 600,000-barrel tanker would leave Ras Lanuf's al-Sedr port for a European country, without identifying it.
    Interim Oil Minister Abdulrahman Ben Yazza said last month that Libya's oil output had hit 1 (one) million barrels per day (bpd). Ben Yazza also said production would reach 1.3 million bpd by the first quarter and 1.5 million bpd by the second half of 2012.
    Despite another official stating the repair bill could "run into the billons", Ahmed Ammar was confident that crude export from al-Sedr would increase to pre-conflict levels.
    "The company was producing 350 thousand barrels per day, currently we are producing over 100 thousand barrels per day, and we will increase production to the same level as before," he said.
    The country, formerly Africa's third-largest producer, yielded about 1.6 million bpd before the civil war led to a virtual shutdown in supplies, according to industry estimates.

    EDITORS NOTE: ALTERNATE SPELLINGS OF AL-SEDR PORT ARE: ES SIDER , ES-SIDER , ES SIDR
  • Copyright Holder: REUTERS
  • Copyright Notice: (c) Copyright Thomson Reuters 2014. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register