Tankers to Load Oil at Libya’s Brega Port in Limited Restart
Tankers to Load Oil at Libya’s Brega Port in Limited Re-start
(Bloomberg) -- Two oil tankers are set to load crude at Libya’s eastern Brega port for the first time since January as authorities allow a limited resumption in exports to help relieve a local electricity shortage.
The Suezmax tanker Episkopi arrived at Brega on Sunday to load 600,000 barrels for Vienna-based OMV AG, according to two people with knowledge of the situation who asked not to be identified because they’re not authorized to speak to media. The vessel Aegean Myth is expected at the port on Thursday to load a similar-sized cargo, the people said.
Authorities in eastern Libya, who halted oil exports in their confrontation with the United Nations-backed government in Tripoli, said earlier this month that they would allow a partial resumption to help ease power cuts in their region. The shipments would be in addition to Libya’s initial loading program for September of 1.8 million barrels from the western offshore Bouri and Farwah terminals.
Libyan power plants burn natural gas, but supplies have run low as production at oil fields has dwindled. Production of oil and associated gas might resume if Brega can export some of the crude that currently fills its limited storage tanks. Brega is one of five eastern ports that have been blockaded since January by the eastern-based commander Khalifa Haftar.
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