It is going from bad to worse for Libya’s oil sector. On top of a partial oil blockade which has shut in around 500,000 b/d, a lack of funds is threatening to eat into the remaining 700,000 b/d of Libya’s 1.2mn b/d of pre-shut-in output.
National Oil Corporation (NOC) chairman Mustafa Sanalla sent a letter dated 22 May to Libya’s operating firms, ordering them to halt all maintenance and drilling operations due to “the delay in the transfer of the approved budgets for 2022.” (CONTINUED - 836 WORDS)
