Oil field, refinery and port shutdowns have marred the oil-dependent state’s economic prospects by paralyzing the industry that generates nearly all state earnings, putting further pressure on a beleaguered interim government.
Having stunned the industry by restoring oil output to normal levels in record time after the end of the 2011 rebellion, the post-Qadhafi authorities are back to square one with output reported by NOC to have fallen to “its lowest level of 240,000 b/d.” This compares with 1.5-1.6mn b/d earlier in the year, before the current spate of protests began in May and intensified in late July. (CONTINUED - 1443 WORDS)
