Libyan oil production will be reduced by another 200,000 bpd this week because of urgent repairs on a pipeline, the Libyan National Oil Corporation said this weekend. Besides Sharara, Argus source told the news agency that two other fields had also been shut down amid the latest rift between the PFG and the National Oil Corporation. According to Bloomberg, which estimates Sharara’s output at 350,000 bpd, the slump in production is even greater, at up to 700,000 bpd. Libya’s oil infrastructure has suffered years of neglect, and the field shutdown for the pipeline repairs is unlikely to be the last one. Late last year, oil minister Mohamed Oun said the ministry was considering a reward-and-penalty system for oil field operators in order to motivate them to invest in more production.

Source: Libya Today January 03, 2022 16:37 UTC