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Conflicts in Libya extend, threatening oil output

by ChemOrbis Editorial Team - content@chemorbis.com
  • 23/12/2014 (17:30)
According to media reports, armed clashes in Libya continue to extend across a wider area of the country and thereby threaten to reduce oil production drastically. As a result of the increasing conflicts, Libya’s oil production has reportedly fallen to the point that the country is unable to meet local demand. Libya’s National Oil Corporation (NOC) did not provide any specific figures regarding the country’s current output.

According to media reports, the Mellitah oil port, operated as a joint venture between Italy’s ENI and the NOC, is under risk due to nearby fighting and protests. Fighting may lead to a halt in gas exports to Italy and cut oil production to an amount less than the needs of Libya’s domestic market.

Previously, because of ongoing armed clashes, NOC declared force majeure on oil output from the Es Sider and Ras Lanuf oil ports, which have a combined capacity of 560,000 barrels a day.
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