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Oil Production Halts in Southeast Libya as Output Cuts Begin

Kehinde Giwa by Kehinde Giwa
August 27, 2024
in Business
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Oil Production Halts in Southeast Libya as Output Cuts Begin

FILE PHOTO: A general view of the El Sharara oilfield, Libya December 3, 2014. REUTERS/Ismail Zitouny

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On Tuesday, engineers reported that production has been halted at two oilfields in southeast Libya, with a reduction in output at a third field. This development aligns with a plan announced on Monday to decrease Libya’s oil output.

The eastern-based administration, which has authority over these fields, had earlier stated that the fields would be closed, but there has been no confirmation from Libya’s internationally recognized government in Tripoli or the National Oil Corp (NOC).

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The rival government in Benghazi, led by eastern Libyan military leader Khalifa Haftar, controls most of the country’s oil resources. Engineers at the Amal and Nafoora oilfields confirmed that production was halted, while Abu Attifel oilfield reported a reduction in output. These fields are crucial as they account for nearly all of Libya’s oil production.

The NOC subsidiary Waha Oil Company announced plans for a gradual reduction in output due to “protests and pressures,” with a warning of a possible complete halt. Another subsidiary, Sirte Oil Company, also indicated a cut in production. As of July, Libya’s oil production was approximately 1.18 million barrels per day, according to the Organization of the Petroleum Exporting Countries (OPEC).

Tags: NOCOil Production
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