NOC Chairman: Libya’s oil production on slide everyday due to shutdown of exports
Libya’s national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the National Oil Corporation (NOC) said in a statement on Monday.
The NOC had not previously stated how high the country’s production had climbed after partially recovering to more than 1 million bpd a year ago.
Last month it dropped sharply when an armed attack against forces loyal to eastern-based commander Khalifa Haftar at the oil export ports of Ras Lanuf and Es Sider shut both terminals down.
“Our production today is 527,000 bpd. Tomorrow it will be less and the day after tomorrow less again. And we are going lower,” Sanallah said.
The NOC had previously estimated the production loss from the stoppage at 850,000 bpd, or $67 million in daily revenue.