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FINANCIAL NEWS
Unrest in Libya causes slash in oil production
27 Feb 2011
(MENAFN) An oilfield manager said that unrest in Libya caused oil production at the eastern Libyan oilfields of Misla, Sarir and Nafoora to be cut by more than the half, reported Gulf Daily News.
The manager said that the fields are being protected by the Libyan army along with workers.
Oil output of Misla field decreased to half of the normal production of 100,000 barrels a day, the manager added.
Crude oil deliveries from Libya, which is the 12th largest oil exporter in the world, stopped due to slashing of production, a lack of workers at ports and safety concerns.
It is worth noting that the country’s oil production normally amounts to 1.6 million barrels per day of high-quality oil.
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