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Wednesday, December 31, 2014
For the first time in around seven months production out of Libya has fallen under 300,000 bpd.P prior to the civil war to oust longtime dictator Muammar Qaddafi, the strife beleaguered country was pumping well over 1 million barrels a day, however the closest it has gotten to that number since then is around 850,000-900,000 bpd.
The most recent drop comes as Islamist militants shift their attacks to energy facilities, which could end up crippling the economy even further. Rockets hit a crude storage tank at the Es Sider on December 25, causing a fire which has spread to other storage tanks.
The fire has destroyed an estimated at up to 1.8 million barrels of crude. Total damage so far, including the lost oil, is estimated at $213 million, al-Mabrook al-Buseif, the top oil official of the recognized Libyan government, told Reuters.
The December 25 attack was not the first fighting the Es Sider terminal has seen, on December 13 fighting took place outside the terminal. The December 13 fighting caused no actual damage to the terminal.
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