• 4 minutes Natural gas is crushing wind and solar power
  • 7 minutes OPEC and Russia could discuss emergency cuts
  • 10 minutes Peak Shale Will Send Oil Prices Sky High
  • 13 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 9 hours WTI are we seeing the perfect storm
  • 13 hours Cheap natural gas is making it very hard to go green
  • 8 hours "Criticism of migration will become a criminal offense.  And media outlets that give room to criticism of migration, can be shut down." - EU Official to the Media.
  • 16 mins On Venezuela
  • 1 hour CCP holding back virus data . . . . . . Spanish Flu 1918 MUTATED, Came back in 3 waves, Lasted 14 months and killed upward 5% World population
  • 18 hours Oil and gas producers fire back at Democratic presidential candidates.
  • 4 hours I Love Hills
  • 21 hours Saudi Aramco launches largest shale gas development outside U.S.
  • 17 hours Investments worthy in versatile and clean natural gas
  • 1 day Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 1 day CDC covid19 coverup?
Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

Libya Oil Output Plummets To 280,000 Bpd

Libya’s oil production took a nosedive to less than 300,000 bpd last week, from over 1 million bpd following a blockade of its main oil export terminals, which has in turn prompted the shutdown of several large fields, the National Oil Corporation said as quoted by Reuters.

At the end of the week this improved somewhat, rising to a little above 320,000 bpd.

Tribal groups affiliated with General Khalifa Haftar’s Libyan National Army, itself affiliated with the eastern government of Libya, occupied the terminals last week and seized several fields in Libya’s main oil producing region.

Among the affected fields were Sharara—Libya’s largest—and neighboring El Feel, the two contributing almost a third of Libya’s total output.

The Libyan National Oil Corporation declared force majeure on oil exports soon after the news of the seizures broke and warned that the blockade could cost the country $55 million daily, the Libya Observer reported. The blockade will also cost Libya between 500,000 and 800,000 bpd in lost oil production, according to different reports.

Before the blockade, Libya was pumping around 1.3 million bpd.

The blockade took place ahead of peace talks between Haftar and the UN-recognized Government of National Accord. The talks ended with no definitive result, although the negotiators upheld a ceasefire and an arms embargo agreed earlier by a dozen foreign countries and several regional organizations, but not by the warring parties in Libya. The latest media reports from Libya suggest the ceasefire and the arms embargo have not held.

Al Jazeera reported earlier today the LNA had advanced on the city of Misrata, seizing a town on the way that was under the control of the GNA. The GNA responded, which resulted in clashes that left three people killed. Misrata is a key stronghold of the GNA complete with several militias loyal to the government.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage




Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News