Libyan crude production has temporarily dropped by about 100,000 barrels a day due to technical issues at two fields, the OPEC member’s oil minister said.
(Bloomberg) —
Libyan crude production has temporarily dropped by about 100,000 barrels a day due to technical issues at two fields, the OPEC member’s oil minister said.
The North African country is now pumping a little over 1.1 million barrels a day, Mohamed Oun said. That’s down from the 1.226 million daily barrels the state-run National Oil Corp. reported Friday.
Oun attributed the decline to unspecified technical problems related to electricity at the Masala and Sarir fields. Arabian Gulf Oil Co., which operates the sites, is working to resolve the issue and restore production, he said.
Libya, home to Africa’s largest oil reserves, has seen a recent rebound in its output after the government reached a July agreement with protesters and tribal leaders to reopen fields and export terminals largely shut for months.
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