Company results released over the past few weeks shed further light on the devastating impact of last year’s production shutdowns in Libya. But they also highlight the rapid resumption in output in the final quarter of the year, giving firms hope that 2021 will be more stable.
International oil companies are heavily involved in both the Waha Oil Company and Akakus Oil Operations consortiums which together account for about half of Libya’s 1.2-1.3mn b/d capacity. Like almost all of Libya’s onshore production, Waha and Akakus were badly hit last year by an eight-month oil blockade led by eastern warlord Khalifa Haftar (MEES, 25 September 2020). (CONTINUED - 1346 WORDS)