Oil production at “virtual standstill” says Energy Committee

/oil-production-at-virtual-standstill-sa

  • L’insécurité perturbe de plus en plus l’industrie pétrolière libyenne. Le point faible semble être les terminaux d’embarquement occupés par des groupes armés désireux de faire aboutir leurs revendications.

    Oil production at “virtual standstill” says Energy Committee | Libya Herald
    http://www.libyaherald.com/2013/09/03/oil-production-at-virtual-standstill-says-energy-committee

    Armed strikes at Libya’s oil fields and export terminals have brought crude oil production in the country to a virtual standstill, according to the Energy Committee of the General National Congress (GNC).

    The committee confirmed, in an official statement released after a meeting yesterday, that the decline in production caused by closure of the oil facilities was now hurtling towards zero.

    One employee of a major oil firm, however, told the Libya Herald that production was actually down to 60,000 barrels per day (b/d). He added that this was equivalent of zero, because it was not enough to fulfil even local demand.

    The committee said that, among the political and economic consequences of the closure of the oil facilities, there would be substantial material losses for the Libyan state. The strikes had caused an imbalance in the budget, he said, which was calculated on the basis that oil production is 1.5 million with the market value of at least $90 per barrel. This has caused disruption across ministries, the committee said.

    Losses have been estimated at $3 billion so far.