East-based oilfield shut for maintenance, Libya’s oil output lowered slightly
Libya’s east-based Al-Bayda oilfield has halted work due to pipeline maintenance work, field engineers said on Wednesday.
The oilfield pumped until the closure around 7,000 barrels a day, forcing state oil firm AGOCO, part of National Oil Corporation (NOC), to lower production to 270,000 bpd, the engineers said.
NOC said on Monday that its revenue registered a 23% month-on-month leap to stand at USD2.1 billion during the seventh month of this year.
NOC indicated in a statement that this boost is driven by a hike in the volume of crude oil shipments by the end of June 2019, when revenues reached USD1.73 billion.
“Libya’s oil sector is still vulnerable to setbacks mainly related to the deteriorating security situation inside the country,” said NOC Chairman, Mustafa Sanalla.
Sanalla indicated that the sabotage incident which affected Sharara oil pipeline “has significantly reduced revenues.”