Tuesday, 9 July 2013

Libya Oil Output Slides as Power Cuts Mix With Protests - Bloomberg

"Since the overthrow of Muammar Qaddafi in 2011, Libya’s oil industry has become the target of violent attacks and civil protests. The latest challenge is a lack of electricity.
Production dropped 16 percent to 1.13 million barrels a day last month, the lowest since January, according to data compiled by Bloomberg. The decline is partly because power shortages are disrupting the pumps that lift oil from beneath the ground, said Abdel Jalil Mayuf, a spokesman for state-run Arabian Gulf Oil Co., which pumps crude in eastern Libya."

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