Libya’s Oil Output Slumps After Fire at Pipeline to Key Port
- Waha’s production is said to drop 40,000 barrels a day on fire
- Disruption was result of ‘terrorist action,’ Waha said
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An attack on an oil pipeline supplying Libya’s biggest export terminal has reduced the North African country’s production by at least 80,000 barrels a day and would take several days to repair, the National Oil Corp. said Sunday.
The impact of the fire, which Waha Oil blamed on “terrorist actions,” underscores the fragility of Libya’s oil recovery. The Organization of Petroleum Exporting Countries member has struggled to boost production amid the lingering effects of political divisions and conflict that flared in 2011.