*Libya Lifts Force Majeure On El Feel Oil Field on Way To 1 Mil B/D Output*
The El Feel oil field, also known as the Elephant, has had the force majeure lifted. The 70,000-bpd field is ramping up production to reach the target of 1 million barrels per day which would double current levels of production. This opening of the field marks the end of all force majeures placed on oil fields in the OPEC nation with levels returning to normal production over the next few days. (S&P Global Platts)
*BP Evacuating Staff from Offshore Gulf of Mexico Oil Platforms as Tropical Storm Brews*
BP began evacuating four offshore platforms as the threat of a tropical storm Zeta popped up in the Caribbean Sea. BP are taking steps to mitigate risk of damage and danger as Zeta looks as if it could develop into a hurricane as it hits the Mexican peninsula over the coming days. (Reuters)
*Russia’s Lukoil Says Harsh Tax Policy Will Stunt Recovery*
Russia’s second largest producer of oil said that it expects to see oil prices around the $50 per barrel mark into 2021, but as pointed that the company may struggle as it looks to confront the tough taxation policy put in place. Moscow has been seeking ways to plug the gap in state finances as a result of the falling oil price and has levied a profit-based tax on the industry that came into effect earlier this month. (Reuters)