✂ Fed’s first rate cut since 2020: Use our free Stock Screener to find new opportunities fastExplore for FREE

Clashes halt oil loadings at Libya's Es Sider, Ras Lanuf ports - sources

Published 14/06/2018, 12:39
© Reuters. FILE PHOTO: Libya's eastern-based commander Khalifa Haftar attends General Security conference, in Benghazi

BENGHAZI/LONDON, Libya (Reuters) - Libya's Es Sider oil port shut on Thursday due to armed clashes in the area and at least one storage tank in the neighbouring Ras Lanuf terminal was set alight, an engineer told Reuters.

Loadings were suspended at Ras Lanuf, according to a local shipping agent.

The clashes between forces loyal to Khalifa Haftar's Libyan National Army (LNA) and rival armed groups were taking place south of Ras Lanuf, where the LNA was targeting its rivals with air strikes, local sources said.

The LNA took control of Es Sider and Ras Lanuf along with other oil ports in Libya's oil crescent in 2016, allowing them to reopen after a long blockade.

Storage tanks at both terminals were badly damaged in previous fighting and have yet to be repaired, though there has been regular loadings from Es Sider.

A military source said the three-pronged attack was launched by the Benghazi Defence Brigades (BDB), a group that has previously tried to take the oil crescent and advance on Benghazi, which has been fully controlled by Haftar since late last year.

The clashes were not affecting any oilfields, the source said.

A local resident said he had heard the sound of heavy clashes and air strikes at dawn and had seen a large fire at the Ras Lanuf tank farm.

Crude exports from Ras Lanuf stood at 110,000 bpd in May, while exports from Es Sider were around 300,000 bpd, according to oil analytics company Vortexa.

The Minerva Lisa oil tanker, which was due to arrive at Es Sider to load a crude cargo on Thursday was advised to stay outside the port, a source familiar with the matter said.

The tanker, chartered by trader Petraco, was seen turning away from the port on Thursday morning without loading, according to Reuters ship tracking.

The Seascout is expected to arrive at the port on June 18.

Libya's oil production recovered last year to just over 1 million barrels per day (bpd) and has been mostly stable, though it remains vulnerable to shutdowns and blockades at oil facilities.

National output is still well under the more than 1.6 million bpd Libya was producing before a 2011 uprising led to political fragmentation and armed conflict.

© Reuters. FILE PHOTO: Libya's eastern-based commander Khalifa Haftar attends General Security conference, in Benghazi

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.