What’s Next For Libya As Oil Production Slips

29 Aug 2017   Libya

World Oil reports that an attack by an armed group caused the field’s pipeline to its nearest export terminal to close. The development sets Libya 330,000-bpd back on its goal of reaching and surpassing pre-Ghaddafi-ousting levels of production. On average, the country pumped 1.6 million barrels of oil per day before the Arab Spring brought the previous dictatorship to its knees. The El Feel field, another major oilfield, declared a force majeure last week, sources familiar to the case said, while expressing their hesitation due to the private nature of the matter. The same situation unfolded at the Hamada field, according to Arabian Gulf Oil Co. spokesman Omran al-Zwai. Just last month, Libya’s July output was at a four-year high , perhaps signaling the success of the fledgling regime backed by the might of Khalifa Haftar’s Libyan National Army. The Islamic State is moving in on Haftar if reports […]

Comments are closed.