(Ecofin Agency) - Last week, Libya’s daily oil production surged to reach one million barrels, Libya Observer reveals. This is the highest level reached by the local oil industry this year and, it is due to the relaunch of extractions at Sharara (the main oil field where 300,000 barrels are extracted daily), Amal and As-Sarah.

Let’s note that since February 2018, violence escalated between armed groups in the main production basins. During these violences, many oil transport routes were destroyed and the production slowed down.

Though the production has resumed, there are challenges the country will face as far as exports are concerned. Indeed, because of fire that destroyed part of Ras Lanuf port last June, its storage capacity was reduced to 400,000 barrels.

It is worth noting that since 2011, Libya’s oil production has not been stable due to the clashes in the production basins. The country, which expects to produce 2 million barrels daily by 2019, is still unable to produce 1.6 million barrels (its daily production before 2011).

Olivier de Souza