Leak at Libyan Oil Pipeline

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Libya's National Oil Corp. (NOC) reported a leak on Monday from a crude oil pipeline that connects the Giallo oil field in the Sirte Basin to the Es Sider terminal on the coast. Operator Waha Oil Co. planned to reduce output from Giallo by some 60,000-70,000 b/d until the leak can be fixed, NOC said in a statement. Libya's oil infrastructure is in dire need of repair after a protracted civil war. Prime Minister Abdulhamid Dbeibeh heads a government of national unity that is supposed to oversee nationwide elections in December, but there are continuing security concerns across the country. Oil production hovers around 1.2 million b/d with monthly exports reaching some 1.1 million b/d. NOC plans to export some 35.3 million bbl (1.14 million b/d) of crude in August, according to a loading schedule (IOD Aug.4'21). It plans to export some 8.95 million bbl from Es Sider this month, the schedule shows. Austria's OMV lifted a 630,000 bbl cargo on Aug. 2-3, China's Unipec lifted 1 million bbl on Aug. 4-5, and Total took a 630,000 bbl shipment on Aug. 7-8. US Refiner Phillips 66 is scheduled to lift a 630,000 bbl cargo on Aug. 12-13 while Azerbaijan's Socar is set to lift 1 million bbl on Aug. 14-15.

Oil Supply, Crude Oil
Wanda Ad #2 (article footer)
Mumbai-based Gatik, which has become one of the largest shippers of Russian crude, may be unable to insure its ships after being struck off by US and UK registries.
Thu, Jun 1, 2023
Opec-plus faces another tricky meeting this weekend as benchmark Brent struggles to stay above $70 per barrel despite the group's recent supply cuts.
Thu, Jun 1, 2023
In a sign of how quickly market conditions are changing in Asia, some regional refiners have decided to forego earlier planned run cuts.
Thu, Jun 1, 2023