July 16, 2018 / 12:49 PM / a month ago

UPDATE 1-Libya's AGOCO output at 150,000-180,000 bpd after port standoff ends -official

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BENGHAZI, Libya, July 16 (Reuters) - Production at Libyan’s Arabian Gulf Oil Company (AGOCO) stood at between 150,000 and 180,000 barrels per day (bpd) on Monday as fields resumed production after a standoff at eastern export terminals, a port official said.

AGOCO exports from Hariga, one of four terminals where Libya’s National Oil Corporation (NOC) regained control last week after exports were blocked by eastern officials.

Production at AGOCO, an eastern based subsidiary of the NOC, was around 250,000 bpd earlier in the year, though output had fluctuated due to power supply problems.

As operations at eastern fields restarted a tanker entered Hariga on Sunday to begin loading one million barrels, the port official said.

The standoff at eastern ports had threatened to keep as much as 850,000 bpd offline.

Libya’s production suffered a new blow on Saturday when the southwestern Sharara oilfield reduced output after the abduction of two staff.

Reporting by Ayman al-Warfalli; writing by Aidan Lewis; editing by Jason Neely

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