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Thursday, September 5, 2013
Libya’s oil production levels are dropping at an alarming rate. According to reports this weeks production levels are 100,000 bpd lower than those reported the previous week. Libya’s current oil production levels now sit around 150,000 bpd, under a tenth of what the North African nation is capable of producing.
An anonymous NOC official said that protesters are continuing to cripple the petroleum sector and are cutting off the country’s main source of funds, crude export revenue. Exports have fallen to around 80,000 bpd with only three export terminals, Marsa Brega and the Jurf and Bouri platforms, remaining open.
There are two vessels waiting to load at the port of Hariqa in far eastern Libya which are having difficulty finding crude from shut oilfields, an official, who requested anonymity, told Reuters.
The energy committee of the General National Assembly said in a statement that production had almost “reached zero” due to the prolonged stoppages and was “causing huge losses to the Libyan state that would directly impact the livelihoods of ordinary Libyans.”
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