Kate Turlington + 44 KT January 22, 2018 Libya is planning to restart its Wintershall oilfield. That would put some 57,000 bpd of new supply into the market. Quote Share this post Link to post Share on other sites
TraderTate + 186 TS January 22, 2018 Why was it closed? Under attack? Part of the power struggle? Quote Share this post Link to post Share on other sites
Kate Turlington + 44 KT January 22, 2018 no ... protests, and closed since November. It's the Sara oilfield, operated by Wintershall AG Quote Share this post Link to post Share on other sites
Carlsbad + 19 CB January 22, 2018 and ... Shell and BP have just agreed to annual deals for the purchase of Libyan crude. Quote Share this post Link to post Share on other sites
Kate Turlington + 44 KT January 22, 2018 normally that would be a strong indication of 'recovery', but in this case I don't get the supermajor sentiment. The situation in Libya is highly unstable and can change on a dime. Quote Share this post Link to post Share on other sites
Rodent + 1,424 January 22, 2018 57K bpd is not good news for prices. OPEC's compliance has banked on LIbya and Venezuela's crippled production. Quote Share this post Link to post Share on other sites
Addy + 14 AW January 22, 2018 Just now, Rodent said: 57K bpd is not good news for prices. OPEC's compliance has banked on LIbya and Venezuela's crippled production. I would tend to agree with you, except for the fact that Libya is bound to have further supply disruptions. It's not like their problems are over. The extra 57,000 barrels daily is probably not going to hold. They've been trying to bolster production for a long time now. Quote Share this post Link to post Share on other sites
Rodent + 1,424 January 22, 2018 Well, maybe the oil majors know something we don't. I don't think they'd be rushing headlong into something that carries too much risk. Quote Share this post Link to post Share on other sites
TraderTate + 186 TS January 23, 2018 Just read that Wintershall's shutdown of the oilfield was "unauthorized'. I take that to mean they cave to strikes without the National Oil Company's approval? Quote Share this post Link to post Share on other sites
Addy + 14 AW January 24, 2018 4 hours ago, TraderTate said: Just read that Wintershall's shutdown of the oilfield was "unauthorized'. I take that to mean they cave to strikes without the National Oil Company's approval? I think that's exactly what they mean. Quote Share this post Link to post Share on other sites
Missy + 43 MM January 24, 2018 On 1/22/2018 at 2:04 PM, Rodent said: 57K bpd is not good news for prices. OPEC's compliance has banked on LIbya and Venezuela's crippled production. and now Venezuela is saying it can ramp up by 1 million barrels per day easily. If Libya and Venezuela both increased production to a significant extent, OPEC would be in trouble. Quote Share this post Link to post Share on other sites
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