Libya’s oil production has fallen to 98,000 b/d. Oil blockades imposed by eastern-based general Khalifa Haftar on 18 January have slashed output by around 1.1mn b/d and cost the country more than $3bn in revenues, according to National Oil Corporation. February crude output at 120,000 b/d was lowest since the 2011 revolution (MEES, 6 March).
Mr Haftar is attempting to starve the Tripoli-based government of vital oil revenues in support of his war to take over the capital (MEES, 14 February). The blockade of five eastern oil terminals has brought production from the key Sirte basin fields down to a trickle, while the forced closure of a valve has shut in around 370,000 b/d from the El Sharara and El Feel fields located in the country’s south. (CONTINUED - 227 WORDS)