Libya's Top Oil Field Output Said to Fall on Security Threats
- Sharara said to pump 200,000 barrels a day as of Sunday
- Pumping was also interrupted last week by armed protesters
Libya's biggest oil field is said to have reduced crude production by more than 30%. Supplies are being disrupted by security threats and tension among port workers. Bloomberg's Yousef Gamal El-Din reports on 'Bloomberg Daybreak: Europe.' (Source: Bloomberg)
Crude production at Libya’s biggest oil field has plunged more than 30 percent in recent days after two company vehicles were stolen at gunpoint, raising new security concerns at the OPEC country’s operations, a person familiar with the matter said.
Output at Sharara was down to 200,000 barrels a day on Sunday, compared with 300,000 barrels a day about a week ago, as workers were kept from certain areas for their own safety, the person said, asking not to be identified because the information is confidential. An official for Libya’s state-run National Oil Corp., which operates the field in a joint venture, wasn’t available for immediate comment.