Well, so far there has been a $3 rise in WTI
Libya will not regain full oil output for at least three years: Woodmac
London (Platts)--15Aug2011/534 pm EDT/2134 GMT
Libya will not be able to restore oil production to pre-crisis levels of 1.6 million b/d from less than 100,000 b/d now until three years after the end of hostilities, Edinburgh-based consultancy Wood Mackenzie said in a report released Monday.
Even then, Woodmac said, achieving pre-crisis production over a 36-month time frame would depend on the damage to oil infrastructure being limited, the swift removal of international sanctions and the timely return of international oil companies and foreign workers.
platts.com
In Libya, pipelines become candles after 3 or 4 months of inactivity....
Composition
Each deposit contains oil with unique molecular characteristics, which influence not only the quality and therefore the price of the oil, but also its production characteristics. Some types, such as the oil Wintershall produces in the Nakhla field in Libya, have a very high paraffin content and solidify even at room temperature. This may clog up the pipelines, unless special precautions are taken. For this reason, some pipelines are specially insulated or can even be heated in order to keep the oil liquid.
wintershall.com
wintershall.com |
