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Libya Oil Recovery Under Threat as Output Falls Amid Funding Row Bloomberg 2 hrs ago Salma El Wardany (Bloomberg) -- Libya’s oil production has fallen below 1 million barrels a day for the first time in months as a budgetary dispute hinders the OPEC member’s ability to fix war-damaged infrastructure. The National Oil Corp. stopped exports from the eastern port of Hariga, it said in a statement late Monday. The state firm said the central bank’s “refusal” to release money to the energy sector had forced local producers to pump less. The quarrel risks derailing a rec...

Libya Oil Recovery Under Threat as Output Falls Amid Funding Row Bloomberg 2 hrs ago Salma El Wardany (Bloomberg) -- Libya’s oil production has fallen below 1 million barrels a day for the first time in months as a budgetary dispute hinders the OPEC member’s ability to fix war-damaged infrastructure. The National Oil Corp. stopped exports from the eastern port of Hariga, it said in a statement late Monday. The state firm said the central bank’s “refusal” to release money to the energy sector had forced local producers to pump less. The quarrel risks derailing a rec...

Here’s What Libya’s New Government Means for the Oil World Bloomberg 3/16/2021 Salma El Wardany (Bloomberg) -- Libya’s back in the oil game after years of false starts and setbacks. Energy facilities shut or damaged during its civil war were reopened last year and the OPEC member has managed to keep its production above 1 million barrels a day since November. Popular Searches On Monday, the country’s first unified government in seven years was sworn in, as efforts to reach a formal peace gather pace. There are still plenty of divisions between the differing factions ...