Libya’s oil output and exports remain anything but stable. But output, at 920,000 b/d for the first seven months of 2017, was up 24% on the same period a year earlier whilst oil prices, at just shy of $70/B for Libya’s Es Sider crude, were up 40% over the same period.
Added together this has resulted in oil revenue of $13.6bn for the first seven months of 2018, already ahead of the $13bn figure for the whole of 2017, NOC announced on 6 September.
Pro-rating the January-July...