Protests Drive Libyan Output Below 1Mn B/D
A months-long wave of protests has finally begun to hit Libya’s oil industry in a major way, with state-owned NOC conceding on 11 June that output had fallen to below the critical 1mn b/d mark.
“Production of crude has falen below 1mn b/d, resulting in an estimated fall in revenue of hundreds of millions of dollars, in addition to a fall in natural gas levels to the lowest levels,” NOC said....