Libya turmoil hampers output

Libya

TRIPOLI, March 28, 2017 – Clashes between rival groups in Libya is beginning to affect oil production, with sources on Tuesday reporting on a 20% drop in output.

Speaking on the condition of anonymity, someone familiar with the matter said production currently stands at 560,000 bopd, down from 700,000 bopd last week, on account of the shutdown of the pipeline carrying crude from the Sharara field.

According to National Oil Corporation data, Sharara most recently produced 221,000 bopd. Libya’s NOC was not available for comments on the pipeline shutdown, Bloomberg reported. In addition to Sharara, the line from the nearby Wafa field has reportedly also been shutdown, with some media outlets suggestion the closures were initiated by a militia over outstanding wages.

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