Libyan oil output fell by 280,000 b/d to 1mn b/d this week as NOC on 19 April declared force majeure on exports from the Hariga oil terminal and said its Agoco subsidiary had been forced to shut in 280,000 b/d of its output due to an inability to “fulfill its financial and technical obligations.”

Most of Agoco’s production comes from the Sarir and Mesla fields located in the Sirte Basin, both of which are connected to Hariga by pipeline. NOC chairman Mustafa Sanalla says a lack of funds is putting other NOC subsidiaries on the brink of outages. (CONTINUED - 412 WORDS)