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FINANCIAL NEWS
Oil production in Libya is to hit five-month low
03 Oct 2017
(MENAFN) The production of oil in Libya have fallen to a 5 month low, as the biggest supplier’s field of North Africa stopped pumping crude, few weeks after re-opening from an unexpected obstruction.
Libya, holding the largest crude reserves in Africa, is now producing at its lowest point since April, compared to 1.05m pound/day in August before the halt.
Libya pumped 1.6m pound/day, before a rebellion in 2011 that led to the fall of central authority, followed by years of clashes between opponent government and militias, competing to control the country’s energy wealth.
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MENAFN0310201700450000ID1095916283
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