Libya warns its oil recovery is under threat

Libya warns its oil recovery is under threat:

"The head of Libya’s national oil company (NOC) has warned that the country’s recovery in oil output is under threat as it has only received a quarter of its budget from the UN-backed government.

Mustafa Sanalla, the NOC chairman, told reporters in London that a target of 1.25m barrels a day of output was “very uncertain” with current production around 1m.

While that level is around four times higher than early 2016 the recovery is in jeopardy, with damage from earlier fighting still hampering production while political uncertainty in the country has led to a number of shut-ins at fields otherwise capable of producing."



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