September 23, 2019 [S&P Global Platts] – Storage capacity at Libya’s key 220,000 b/d Ras Lanuf oil terminal has increased following renovation work, state-owned National Oil Corporation said late Tuesday, after a number of storage tanks were destroyed by Islamic State militants in January 2016.
NOC also said storage capacity at this key export terminal is likely to increase even further as it is also looking “to construct and replace storage tanks number 4 and number 12.”
It did not give any figures for current storage capacity at the port and had not responded to requests for the information at the time of writing. Libya’s recent oil output gains have been tempered by constraints on infrastructure.
Storage tanks at Es Sider, the country’s largest port, and Ras Lanuf, have been damaged by Islamic State militant group attacks, which reduced their capacity significantly.
The North African country is embroiled in a protracted civil war, as the self-styled Libyan National Army and forces loyal to the UN-backed government and other militia groups have clashed regularly in the past five months. Despite the conflict, oil output in Libya has been on an upswing and exports have been unaffected.
Libya’s crude output has averaged 1.02 million b/d from January to August this year, compared to levels of 948,333 b/d and 807,500 b/d in 2018 and 2017 respectively, according to the S&P Global Platts OPEC survey.
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