Libya’s oil output is down 300,000+ b/d on forced outages at key southwestern fields. Gas production is also affected, hitting both domestic supply and exports to Italy.
This year has been a relatively positive one for Libya’s upstream – in comparison with recent history at least. But as 2021 draws to a close the country has been hit with its most serious production shutdown since last year’s nationwide oil blockades. National Oil Corporation (NOC) said on 20 December that an armed group had forced more than 300,000 b/d offline at four key fields in the southwest, cutting the Opec member’s crude output from 1.2mn b/d to around 900,000 b/d. (CONTINUED - 879 WORDS)