Eni Likely to Reduce Libyan Output Further as Tanks Fill

Eni SpA will probably cut Libyan oil production further and may halt it altogether because storage tanks at export terminals are filling up, said two people with knowledge of the situation.

While Eni, the largest foreign oil producer in Libya, is still pumping oil and natural gas at 50 percent of usual levels, storage space for crude is running out because of difficulty loading tankers to export the oil, the people said, declining to be identified because the information is private.