London — The Petroleum Facilities Guard of Libya's eastern oil terminals said they will reopen the country's key oil ports to allow the exports of some barrels from storage,Not registered? Register NowBut the restart of a bulk of Libya's crude oil production remains uncertain as the state-owned National Oil Corp. has yet to agree to terms with the PFG, sources close to the matter said Aug.19. Crude production in Libya, which holds Africa's largest crude reserves, has been slashed to around 70,000-110,000 b/d in the past few months from over 1.1 million b/d before the blockade. Hopes to restart Libyan production have faced several obstacles in recent months. "It is too early to say - but the force majeure is [still] not lifted," a source active in the trading of Libyan oil, said.

Source: The North Africa Journal August 19, 2020 12:47 UTC