Libya’s oil production at highest of three years
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Libya is producing 715,000 barrels/day of oil, which is the highest level since 2014.
The reports revealed that the country is also aiming to increase its oil output further to 1.25 million barrels/day by the end of 2017 in order to regain the losses it had due to the years-long political chaos and conflict it experienced.
All of the country’s export routes are open, the reports indicated, although some have low operation rates due to the damage they were exposed to during years of conflict.
The country opened its biggest oil refinery, Sharara, last month and one of its major oil ports, Zawiya, in early January, which positively affected the country’s oil sector. It is also exempt from OPEC’s global oil production cut deal.
The reports revealed that the country is also aiming to increase its oil output further to 1.25 million barrels/day by the end of 2017 in order to regain the losses it had due to the years-long political chaos and conflict it experienced.
All of the country’s export routes are open, the reports indicated, although some have low operation rates due to the damage they were exposed to during years of conflict.
The country opened its biggest oil refinery, Sharara, last month and one of its major oil ports, Zawiya, in early January, which positively affected the country’s oil sector. It is also exempt from OPEC’s global oil production cut deal.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
