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FINANCIAL NEWS
Libya oil output at 10 percent capacity
08 Sep 2013
(MENAFN) Oil exports decreased to less than 10 percent of Libya’s output before the war, falling to 150,000 barrels per day. The decrease has been cited to protests by oil facility guards, Saudi Gazette reported.
Exports were at 150,000 barrels per day on Saturday, an official at the National Oil Corporation said. A related source said this week the loss, due to strikes and protests, had reached more than USD5 billion.
Ali Zaidan, Libya’s Prime Minister, received calls to step down from Islamists because of his inability to provide stability as Tripoli is having problems with water and electricity shortages.
Opec production has decreased mainly as a result of the protests in Libya reducing production to 500,000 barrels per day.
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