Strikes Threaten To Slash Libya’s Output Further

Strikes at oil fields in Libya’s east could reduce output further, blunting a production revival even as a political standoff leaves the sector on the brink of collapse.

Oil output is hovering between 800,000-900,000 b/d, with state-owned National Oil Corporation (NOC) refusing to give precise numbers.

Workers striking at three fields in the oil rich Sirte Basin region have threatened to shut down another field if their demands are not met. Strikers have kept the Eni-operated field shut since protests brought the sector to its knees last year. Since then, a political deal with a federalist movement has resulted in most fields in Libya resuming operations, causing output to rise from lows of just 150,000 b/d earlier in the year. (CONTINUED - 497 WORDS)