Libya's Sidra port prepares to export 750,000 barrels of oil

Alwasat - Cairo Thu 01 Oct 2020, 11:11 AM
alwasat radio

Libya's Sidra oil port is preparing to receive an oil tanker, which will export 750,000 barrels of crude oil.

Al-Waha Oil Company, responsible for managing the port, has begun operations for its technical and administrative headquarters, according to a statement published by the Brega and Zueitina oil ports, Thursday.

On Wednesday, a source from Zueitina oil port revealed to Alwasat that the port is preparing to export 1.63 million barrels of crude oil, as it will receive two oil tankers, the first is OLIB, which is expected to arrive on October 3 and will ship a quantity of 630,000 barrels. Immediately after the tanker EPISKOPI will load one million barrels of crude oil.

Sources familiar with the oil sector previously estimated the quantities of crude in the oil crescent ports' tanks at about 13.89 million barrels, according to Bloomberg.

The sources, whose identity was not revealed by the agency, stated that the quantities of oil stored in the port of Al-Hariga amount to three million barrels, four million barrels at Zuetina, three million barrels at Ras Lanuf, 3.4 million barrels at Sidra and 490,000 barrels at Brega.

Traders have estimated the quantities of oil and condensates stored in the reservoirs of the eastern ports of the country at between 15 million to 20 million barrels.

Libya's National Oil Corporation expects total production next week to reach about 260,000 barrels per day.

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