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New Libyan Power Plant Set to Reduce Sharara Oil Exports

Oil

Libya’s new Ubari gas-fired power station, set to begin operations in about 2 weeks, will initially run on about 50K b/d of Sharara crude oil, reducing exports from the country’s biggest oilfield, Reuters reports. El Sharara was running at around 280K b/d in recent months. Production from the field has been disrupted multiple times by armed protests, including a two-year halt which ended in late 2016. The field is currently producing about 300K b/d, while Libya’s National Oil Corporation (NOC) tries to restore full capacity of 340K b/d.

Overall oil production in the country stands at below 1M b/d due to the continued disruption of the 50K b/d As-Sarah oilfield which was shut over a week ago due to protests, which NOC linked to a contract dispute with German operator Wintershall.