By Libya Herald staff.
Tripoli, 3 December 2013:
Libya is now producing 224,000 barrels of oil per day (b/d) with financial losses from . . .[restrict]strikes and protests at the country’s oil fields and export terminals in excess of LD 8 billion.
Reuters reports that Deputy Oil Minister Omar Shakmak said output had risen from 172,000 b/d a fortnight ago after Amazigh protestors at the Mellitah complex called off their strike.
Before industrial action and protests over pay and conditions began at oil fields and export terminals across the country in July, production had reached at 1.4 million b/d.
He said that the country had lost in excess of LD 8 billion in oil revenues since strikes started. The Deputy Governor of the Central Bank, Ali Mohamed Salem, was quoted by Reuters as saying that these losses have resulted in Libya using up more than $7 billion of its foreign currency reserves.
Speaking to the Libya Herald on 22 November, Shakmak confirmed that the Mellitah and Bouri terminals west of Tripoli were the only two from which exports were possible. He estimated that production was approximately 250,000 b/d, of which 75,000 b/d were coming from the El Fil field west of Obari.
With the National Oil Corporation (NOC) directing some 94,000 bpd to the Zawia refinery, Shakmak said, exports were estimated to be around 130,000 bpd.
Panic petrol buying has begun again in Tripoli, with long queues seen today, although there is no indication of imminent shortages. Much of the country’s petrol is imported, as Libya is unable to refine enough for the domestic market. [/restrict]
