Petroleum Africa
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Wednesday, July 3, 2013
Libya’s economy is struggling due to the constant shut ins at various oilfields across the country. According to officials from the country over the past week new protests have shut down several oilfields cutting output by around one-third.
Naji Mokhtar, head of the energy committee in Libya’s General National Congress, said Libya could lose customers if the situation was not addressed.
“Confidence in us as an oil producer is on edge,” Mokhtar, in charge of the committee for around four months, told Reuters in a telephone interview. “The situation now is very dangerous, Libya is on the way to losing control of the oil sector. If the situation continues like this, the state will be without funds.”
The Sharara, which can pump around 350,000 bpd, El Feel, with a capacity of 130,000 bpd and several of those belonging to the Zueitina Oil Company shut down recently. Mokhtar estimated Libya was losing around $50 million a day.
“This loss is not justified,” he said.
Most recently workers at Zueitina shut down several oilfields calling for a change in management following a dispute over work conditions.
“Even if their demands are legitimate, it should not be done like that,” Mokhtar said.
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