Quotes: 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
 Feb 10 2016 - Turkish PM warns Russia by recalling Soviet invasion of AfghanistanThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Prime MinisterAhmet Davutoluhas warnedRussiaover the possible consequences of its moves in neighboring Syria suggesting they might be about to become mired in ...

 Feb 10 2016 - EU Calls on Israel to Stop Home Demolitions Settlement ExpansionThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The European Union on Saturday called on Israel to stop demolishing Palestinian homes in the occupied West Bank and reiterated “the EU’s firm ...

 Feb 10 2016 - Swiss discuss humanitarian issues with Assad regimeThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) For three years Switzerland has been dealing directly with the Syrian regime of Bashar al-Assad concerning the humanitarian situation in the war-ravaged ...

 Feb 10 2016 - Turkey- Experts rule out impending Israeli onslaught on GazaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Many Palestinian political analysts have ruled out that Israel is likely to launch a new war on the Gaza Strip due to what they described by "political ...

 Feb 10 2016 - UK underestimates number of young deported to war zonesThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) More than 2700 young asylum seekers were deported from the U.K. to the war-torn countries they left as children in recent years according to revised figures ...

 Feb 10 2016 - UAE- WorldGovSummit Mohammed bin Rashid receives mayors and representatives of participating Arab and Foreign citiesEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th February 2016 (WAM) -- Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum today received at ...

 Feb 10 2016 - Swiss Tourism reviews co operation with travel and tourism sector in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 10th February 2016 (WAM)Swiss Tourism in the Gulf Cooperation Council GCC has held a workshop at the St. Regis Hotel Abu Dhabi to meet with travel ...

 Feb 10 2016 - UAE- WorldGovSummit DEWA wins best m Government Award in environment category at World Government SummitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th February 2016 (WAM) -- Dubai Electricity and Water Authority DEWA has won the Best m-Government Service Award in the environment category which ...

 Feb 10 2016 - UAE- EAU receives NQA Qualifications RecognitionEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 10th February 2016 (WAM) -- Emirates Aviation University EAU has received recognition of its qualifications from the National Qualifications Authority ...

 Feb 10 2016 - UAE- Knowledge Without Borders to launch a new cultural initiative next MondayEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) SHARJAH 10th February 2016 (WAM) -- Knowledge Without Borders KWB will announce next Monday the launch of a new cultural initiative in line with 2016 being ...

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help