Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Libya oil output drops to 230,000 bpd after key field shut  Join our daily free Newsletter

MENAFN - AFP - 23/02/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - AFP) Libya's oil production has dropped to 230,000 barrels per day from 570,000 bpd in early January after the closure of Al-Sharara field in the south, state-owned National Oil Corp said Sunday.The drop is the latest blow to the oil-rich but strife-hit North African nation, where the oil sector accounts for 70 percent of GDP, 95 percent of state revenues and as much as 98 percent of exports."The country's oil production has fallen to 230,000 bpd after the closure on Thursday evening of the oilfield at Al-Sharara," which has an output of 330,000 bpd, NOC spokesman Mohamed al-Harairi said.Harairi said the NOC had shut down the field because "protest movements near the... wells no longer ensure the optimal security conditions," without giving further details.Relaunch of production at Al-Sharara in early January had pushed Libya's output up to 570,000 bpd, when protesters in the area lifted their blockade of the site.Tripoli has struggled to impose its will across the country since the 2011 uprising that toppled the regime of dictator Moamer Kadhafi, as groups of ex-rebels have held onto their weapons and defied the government's authority.Supporters of a federal system of government sparked a crisis in the oil sector last July, when they blockaded key terminals in the east, cutting output to 250,000 bpd, from 1.5 million bpd before their strike.The oil crisis has already cost the country more than 10 billion (7 billion euros) in losses, according to estimates from the oil ministry and the World Bank.Al-Sharara is run by Akakus, a joint venture between the NOC, Spanish company Repsol, France's Total and Austria's OMV.The International Monetary Fund said Libya's economy contracted by 5.1 percent in 2013.


 


AFP




  MENA News Headlines
 Oct 25 2014 - Qatar's inflation rate to hit 5.5 percentMENAFN
(MENAFN) Qatar's inflation rate in 2014 is expected to touch 5.5 percent due to steady rise in housing rentals, according to the finding of a research conducted by Standard Chartered, The Peninsula ...

 Oct 25 2014 - Flydubai launches two flights to TanzaniaMENAFN
(MENAFN) Dubai-based flydubai's inaugural flights to Dar es Salaam and Zanzibar touched down in Tanzania. The new routes further underline flydubai's rapid expansion in Africa, which has seen the ...

 Oct 25 2014 - UAE air cargo to grow 4.1 percent in 5 yearsMENAFN
(MENAFN) The International Air Transport Association (IATA) Airline Industry Forecast 2014-2018 shows that international freight volumes are expected to increase at a compound annual growth rate ...

 Oct 25 2014 - Qatar- QSL: El Jaish face Al Gharafa todayThe Peninsula
(MENAFN - The Peninsula) Third-placed El Jaish will seek to narrow the gap between them and two higher placed rivals - Lekhwiya and Al Sadd € when they take on Al Gharafa in the ninth round match of ...

 Oct 25 2014 - Somalia- Mogadishu port on development pathThe Peninsula
(MENAFN - The Peninsula) Camels are prepared for export at the loading dock at the seaport in Mogadishu. The Somali government's grand vision for Mogadishu port under its new Turkish managers sees ...

 Oct 25 2014 - Saudi Shias protest death sentencesThe Peninsula
(MENAFN - The Peninsula) More than 100 people protested in eastern Saudi Arabia yesterday to oppose death sentences against a Shia religious leader and seven others convicted after earlier ...

 Oct 25 2014 - Palestine defies US, issues statehood ultimatumThe Peninsula
(MENAFN - The Peninsula) Palestine's chief peace negotiator has laid out in the clearest terms yet plans to establish an independent Palestinian state within three years, even if it means ignoring ...

 Oct 25 2014 - Police kill six militants ahead of key Tunisian pollThe Peninsula
(MENAFN - The Peninsula) Tunisian police killed six suspected militants, five of them women, in a raid on a suburban house yesterday after a 28-hour standoff, fanning tensions ahead of a landmark ...

 Oct 25 2014 - US looking into possible chlorine gas attack in Iraq: KerryThe Peninsula
(MENAFN - The Peninsula) The United States is looking into reports that Islamic State fighters used chlorine gas against Iraqi security forces, US Secretary of State John Kerry said yesterday.Kerry, ...

 Oct 25 2014 - Qatar- Ooredoo marathon offers QR1m prizesThe Peninsula
(MENAFN - The Peninsula) Registration for Ooredoo Doha Marathon 2015 is open, as the company begins preparations to ensure its biggest event yet on January 9.It will provide an opportunity to meet ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help