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Libya’s Oil Production Drops to Around 800,000 Barrels a Day -Breaking

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© Reuters. Libya’s Oil Production Drops to Around 800,000 Barrels a Day

(Bloomberg) — Libya’s production has fallen by about half a million to 800,000 barrels a day, the lowest in months, as a wave of demonstrations against the prime minister engulfs the OPEC member’s energy industry.

A Friday production drop of about 1.3million barrels per hour was reported by an official. The information is confidential. 

The nation’s biggest oilfield Sharara in the west of the country, which can pump 300,000 barrels a day, was closed on Monday after protesters gathered at the site to demand that Prime Minister Abdul Hamid Dbeibah quit. The same reasons were given for the closure of the Sharara oilfield in the west, which can pump 300,000 barrels per day.

State-owned National Oil Corp. formally suspended loadings from the eastern port of Zueitina on Monday and said it was the “start of a painful wave of closures.” The NOC has also declared force majeure — a clause in contracts allowing exports to be stopped — at Mellitah, a western port fed by El Feel. Protesters threatened to stop operation at Es Sider or Ras Lanuf on Monday.

 

©2022 Bloomberg L.P.

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