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FinancialNews
11-04-19
Clashes outcome to decide oil industry fate in Libya
(MENAFN) The fate of the Libyan oil industry will be decided based on the outcome of recent clashes that erupted after the eastern-based army moved to the west.
Recently, the Libyan oil sector managed to achieve a significant rebound but the recent upheaval could affect its progress.
Production of oil accomplished the considerable recovery with Mustafa Sanallah as the head of the National Oil Corporation (NOC), standing at 1.1 million barrel per days.
Before the crisis erupted in Libya, the production of oil reached 1.6 million bpd, however, the years 2014 and 2016 witnessed better conditions on the lows of 0.3-0.4 million bpd.
MENAFN1104201900450000ID1098374787
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