Libya's Waha Oilfield Resumes Flows to Es-Sider Port

A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/
A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/
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Libya's Waha Oilfield Resumes Flows to Es-Sider Port

A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/
A general view of an oilfield in Libya, December 3, 2014. REUTERS/Ismail Zitouny/

Maintenance on the Zaggut-Sidra pipeline linking Libya's Waha oilfield to the port of Es-Sider has been completed and flows have resumed, Waha Oil Company said on Friday, Reuters reported.

Oil production from the field is expected to return to normal levels in the coming hours, the company said in a statement.

Production was suspended for maintenance early this week after a fire broke out at the pipeline.

Pumping operations have now been restored "after completing all maintenance work, replacing pipes, and conducting the necessary tests to ensure the safety of pumping operations through the pipeline from the fields to Es Sider port," Waha Oil said.

An engineer from Es Sider port told Reuters that one tanker is currently onloading in the port and another is waiting to enter the port.

Waha, a subsidiary of Libya's National Oil Corp (NOC), operates as a joint venture with TotalEnergies and ConocoPhillips.

The company runs five main fields: Waha - which produces more than 100,000 bpd - Gallo, Al-Fargh, Al-Samah and Al-Dhahra.

The company's total production capacity is about 300,000 bpd, which is exported through Es Sider terminal.



Oil Prices Set to End Week Higher on US Demand Optimism

File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif
File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif
TT

Oil Prices Set to End Week Higher on US Demand Optimism

File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif
File photo: Hawk Dunlap, an oil well control specialist, and Sarah Stogner, an oil and gas lawyer, survey an excavated pumpjack with a leaking surface casing in Ward County, Texas, US, August 6, 2024. REUTERS/Adrees Latif

Oil prices were set for a second straight week of gains despite edging lower on Friday, as recent US economic data boosted optimism over demand in the world's top oil consumer.
Brent crude futures looked set for a 1.3% weekly rise, while US West Texas Intermediate crude futures had increased about 1.2%. On Friday, Brent fell 30 cents, or 0.4%, to $80.74 per barrel by 0528 GMT, while the WTI fell 40 cents, or 0.5%, to $77.76.
US retail sales data on Thursday beat analysts' expectations, while separate data showed fewer Americans had filed new applications for unemployment benefits last week, sparking renewed optimism around US economic growth.
"Crude oil reversed recent losses as positive economic data and supply side concerns boosted investor sentiment," analysts at ANZ Research said.
Analysts at consultancy FGE said oil markets would now return their focus to geopolitics, amid warnings of retaliatory attacks from Iran against Israel over the killing of a Hamas leader in Tehran.
A fresh round of negotiations began on Thursday to secure a ceasefire in the Gaza war, even as Israeli troops continued their assault on the Palestinian enclave.
The talks, which have been boycotted by Hamas, were extended and will resume in the Qatari capital Doha on Friday.
Keeping a lid on oil prices, Chinese refineries sharply lowered crude processing rates last month on tepid fuel demand.
The Organization of the Petroleum Exporting Countries (OPEC) on Monday pared its demand outlook for this year citing softer expectations for China.
"Despite crude oil inventories rising last week, gasoline and distillate demand remains strong. This doesn't appear to be the case in China, with apparent oil demand falling 8% y/y in July," ANZ analysts said.