Libya Oil Output Tumbles as Protests Spread Westward
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Libyan oil production fell to one-eighth of its capacity as protests over pay and allegations of corruption spread to fields operated by Eni SpA and Repsol SA, executives at the state oil company and oil ministry said.
Protesters yesterday stopped production at Repsol-operated Sharara and Eni-operated El Feel, or Elephant, fields in western Libya, according to the ministry’s Director of Measurement Ibrahim Al Awami. Output from the North African nation slumped to about 200,000 barrels a day, compared with 640,000 in August and its optimal capacity of 1.6 million, National Oil Corp. Chairman Nuri Berruien said today in an interview from Tripoli.