Libya ... crude flows again
Libya resumes pumping crude from biggest field to Hariga port
BENGHAZ, February 23, 2015
Libya has resumed pumping crude from its southeastern Sarir field to Hariga port, a spokesman for state oil operator Agoco said, bolstering a potential recovery in exports from the country's east after Zueitina port opened at the weekend.
Higher oil exports, which had fallen to a trickle as violent conflict between two rival governments and parliaments disrupted supplies, may bring in badly needed revenues for the Opec member as it faces a growing public finance crisis.
"So far small volumes are flowing," said Agoco spokesman Omran Zwei. "The pipeline is holding."
A pipeline blast had interrupted oil flows from the Sarir field, the country's largest, more than a week ago. Operators at Hariga were forced to rely on oil already held in storage tanks to load a tanker that docked last week.
Hariga and Zueitina are under control of troops loyal to the internationally recognized government, which is based in eastern Libya. The proceeds from the oil exports will go to the central bank which has sought to stay out of the conflict.
Oil exports had fallen to less than 200,000 barrels a day (bpd) with the closure of the eastern Hariga port due to the pipeline blast a week ago, a fraction of 1.3 million barrels it exported daily prior to the ousting of Muammar Gaddafi in 2011.
Most Libyan oilfields have stopped working due to the struggle for supremacy between the government in the east and a rival administration that took control of the capital Tripoli last summer.
The first tanker in almost a year loaded crude from the eastern port of Zueitina, an oil official said, adding there was not enough oil held in storage for a second loading.
It was not immediately clear what the export volumes from Hariga would reach this week. Traders expect initial volumes to be well below capacity as the port ramps up and as supplies from Sarir fill storage tanks.--Reuters
