.- The Libyan oil shipments would fall in the coming days as the increase in violence, the decline in oil production, the impact of sanctions and the increasingly high transportation costs affect the third oil producer in Africa. As violence continues in the country, the oil industry attempts to assess the loss in production.
Most estimates suggest that about half the country's oil capacity from 1.6 million barrels per day (bpd) is not functioning. But the International Energy Agency said Friday that because of the evacuation of workers from foreign oil companies stopped producing one million bpd. "There has been a massive outflow of skilled workers," said Samuel Ciszuk, senior analyst at IHS Energy.
"Now you have a situation where everything points to a more or less complete closure of the Libyan production," he added. Last week, at least 4.4 million barrels came from Libyan ports by tankers. But sources familiar with the shipment said the export momentum was fading, adding that a number of items had been canceled in recent days.
"We definitely are seeing a slowdown in activity," said a shipping agent. "At the end of last week, the agreements have been much rarer, is a combination of nervousness and people are becoming aware of the various sanctions," he added. Western countries, the European Union and United Nations have imposed sanctions on Libya and froze the assets of the government after forces loyal to leader Muammar Gaddafi opened fire on demonstrators.
The Swiss branch of the Libyan oil company Tamoil told Reuters last week that UN sanctions could affect the group's ability to pump oil and that high oil prices had forced him to reduce refinery operations. There were also indications that would tankers leaving Libya without oil in them.
A tanker owned by the Iranian company to transport oil NITC left a Libyan port without charge, as reported by a spokesman for NITC. Separately, Danish and owner operator Torm said one of its tankers left Libya without carrying cargo. "They could not meet the load," said a spokesman for Torm, without giving further details.
The highest authority of crude oil in Libya last week estimated that oil production twelfth largest exporter had fallen to 700 thousand to 750 thousand bpd. Maritime shippers and analysts said it was probable that the quantity exported oil tanker ships had been taken from storage and distribution of existing supplies.
Sources said that rising costs involved in Libyan oil shipments also were doing that was unattractive to generate agreements, with more buyers in search of alternative sources of crude, including supplies in Nigeria or Saudi Arabia. "When budgets are boat owners to double or triple Libyan cargo transport rate due to the uncertainty," said a second ship agent.
The rates for tankers crossing the Mediterranean route rose to its highest point in over nine months last week to almost $ 50 000 per day before falling back to $ 41,197 per day on Friday, according to Baltic Exchange data. Expectations for higher insurance costs are another factor increasing, sources of transportation.
The marine insurance market in London amounted to Libya on a list of areas considered high risk. "The key issue now is the insurance and expensive for people to end up at Libyan ports," said an agent. "The Lloyd's market movement is likely to have an impact," he said. 
Most estimates suggest that about half the country's oil capacity from 1.6 million barrels per day (bpd) is not functioning. But the International Energy Agency said Friday that because of the evacuation of workers from foreign oil companies stopped producing one million bpd. "There has been a massive outflow of skilled workers," said Samuel Ciszuk, senior analyst at IHS Energy.
"Now you have a situation where everything points to a more or less complete closure of the Libyan production," he added. Last week, at least 4.4 million barrels came from Libyan ports by tankers. But sources familiar with the shipment said the export momentum was fading, adding that a number of items had been canceled in recent days.
"We definitely are seeing a slowdown in activity," said a shipping agent. "At the end of last week, the agreements have been much rarer, is a combination of nervousness and people are becoming aware of the various sanctions," he added. Western countries, the European Union and United Nations have imposed sanctions on Libya and froze the assets of the government after forces loyal to leader Muammar Gaddafi opened fire on demonstrators.
The Swiss branch of the Libyan oil company Tamoil told Reuters last week that UN sanctions could affect the group's ability to pump oil and that high oil prices had forced him to reduce refinery operations. There were also indications that would tankers leaving Libya without oil in them.
A tanker owned by the Iranian company to transport oil NITC left a Libyan port without charge, as reported by a spokesman for NITC. Separately, Danish and owner operator Torm said one of its tankers left Libya without carrying cargo. "They could not meet the load," said a spokesman for Torm, without giving further details.
The highest authority of crude oil in Libya last week estimated that oil production twelfth largest exporter had fallen to 700 thousand to 750 thousand bpd. Maritime shippers and analysts said it was probable that the quantity exported oil tanker ships had been taken from storage and distribution of existing supplies.
Sources said that rising costs involved in Libyan oil shipments also were doing that was unattractive to generate agreements, with more buyers in search of alternative sources of crude, including supplies in Nigeria or Saudi Arabia. "When budgets are boat owners to double or triple Libyan cargo transport rate due to the uncertainty," said a second ship agent.
The rates for tankers crossing the Mediterranean route rose to its highest point in over nine months last week to almost $ 50 000 per day before falling back to $ 41,197 per day on Friday, according to Baltic Exchange data. Expectations for higher insurance costs are another factor increasing, sources of transportation.
The marine insurance market in London amounted to Libya on a list of areas considered high risk. "The key issue now is the insurance and expensive for people to end up at Libyan ports," said an agent. "The Lloyd's market movement is likely to have an impact," he said.
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