Libyan Oil Ports Reopen after Storm Forced Closure
Four major oil ports in Libya have reopened after shutting down on Saturday because of the powerful storm that swept the country, killing thousands of people, port agent Al Omran International Maritime Agencies said on Wednesday. The eastern ports of Brega, Es Sidra and Ras Lanuf opened on Tuesday and the port of Zueitina opened on Wednesday morning, Al Omran said. Oil prices rose on Wednesday, with Brent firming around a 10-month peak reached during trading a day earlier, as…
Med Crude-Urals Stronger in Med, Still Weak in Baltic
Russian Urals crude price differentials strengthened slightly on Tuesday in the Mediterranean while hovering near their weakest in 17 months in the Baltic due to abundant supplies. In the Platts window, Glencore offered a Nov 13-17 Urals cargo in the Baltic at dated Brent minus $3.05 a barrel and Vitol a Nov 15-19 cargo at minus $2.80, but found no bidders as the asking prices were seen as too ambitious, traders said. In the Mediterranean, Trafigura bid for a 23-27 Nov Aframax cargo at dated Brent minus $1.95 a barrel, some 30 cents stronger than previous price estimates. But its bid generated no interest as Vitol was seeking prices as strong as dated Brent minus $1.70 for a Nov 17-21 Aframax and dated Brent minus $1.85 for a larger Nov 18-22 Suezmax.
Two Tanker Liftings at Libyan Ports
A tanker is currently lifting 700,000 barrels of crude at the eastern Libyan port of Hariga, an oil official said on Monday. A second tanker was expected at the eastern port of Zueitina on Tuesday to load 600,000 barrels of crude, another official said. Reporting by Ayman al-Warfalli
Libya Oil Exports Stutter, Major Eastern Ports Await Restart
Libya will not be able to export oil through its two largest eastern ports before August, due to safety checks after a near year-long closure, a senior oil official said on Wednesday. The latest twist in a spiral of violence also casts a shadow over the vital deal two weeks ago to end the eastern blockade by federalist protesters of the last two facilities they held. Until April, the rebels were holding four out of five eastern ports, cutting off over half of Libya's export capacity. But an oil export return is proving slow and a full ramp up is already facing new obstacles with a fresh protest by oil guards at the port of Brega. At least 15 people have been killed in the capital and the eastern city of Benghazi since Sunday.
Second Tanker Docks at Hariga Since Reopening
A second tanker has berthed at Libya's eastern Hariga port to load oil from its storage tanks since it reopened under a deal between the government and protesters, an oil official said on Tuesday. The port, located in Tobruk near the border with Egypt, is one of four export terminals to restart work as part of the agreement to end the blockade. "Hariqa port received today the second shipment and the loading process of 850,000 barrels will start within hours and will finish tomorrow," port terminal manager Rajab Abdulrasoul told Reuters. A first tanker had loaded around 900,000 barrels. State-run National Oil Corp (NOC) on Monday lifted force majeure, a contractual waiver, on the port of Zueitina. It is unclear when the first tanker will arrive there.
Libyan's Zueitina Port To Open After Damages Assessed
Libya's eastern oil port of Zueitina, which had been occupied by rebels as part of an eight-month oil blockade, will reopen after damage at its facilities has been assessed, the country's justice minister said on Sunday. Salah al-Merghani also told reporters in the eastern city of Benghazi that a committee to investigate oil corruption had been formed, as agreed under a deal between the government and rebels to end a blockade of eastern oil ports. The reopening of four oil export terminal has been delayed with the rebels accusing the government of not fulfilling all parts of the deal, such as paying financial compensation. Under the…
Med Crude Urals Weaken on April Cargo Overhang
Russian Urals crude weakened on Thursday in a flurry of deals as traders rushed to place end-of-April cargos. Eni sold a cargo of Urals to Total in the Baltic at dated Brent minus $1.50 for April 20-24 delivery, some 20 cents weaker than previous price estimates. Also in the Baltic, Vitol sold an early May cargo to Shell at dated Brent minus $1.35, traders said. In the Med, Eni sold a 80,000-tonne, April 26-30 cargo to Total at dated Brent minus 65 cents and Tenergy sold an April 22-26 cargo to Glencore at dated Brent minus 70 cents, traders said. That was 50-60 cents weaker than previous price estimates. "There was clearly a certain overhang of Urals in the market but maybe the weakening is a bit overdone now," said a trader with a major.
Libyan Port's Oil Exports Halted by Protesters
Protesters demanding jobs closed off the eastern Libyan port of Zueitina for a sixth day, extending a halt in oil exports, according to a senior oil industry source and to one of the demonstrators, as cited by Reuters. Roughly a dozen men last Tuesday evening forced their way into the port, just hours after Zueitina Oil Company workers had temporarily suspended a strike and resumed production at oilfields that pump to the terminal. Zueitina Oil Company pumps between 60,000 and 70,000 barrels but its terminal has the capacity to handle about 20 per cent of Libya’s crude oil exports. Protests and strikes at various facilities have repeatedly lowered Libya’s oil output, which had returned faster than expected to pre-war levels of around 1.6 million barrels per day, adds Reuters.
