July 7, 2020 / 3:11 PM / a month ago

Libya's NOC says oil blockade to halve output in coming years

TUNIS, July 7 (Reuters) - Libya’s National Oil Corporation (NOC) said on Tuesday that a forced shutdown in production since January was expected to cut output to 650,000 barrels per day in 2022 from about 1.2 million bpd achieved at the start of 2020.

It said in a statement on its website that production would be cut in half by 2022 “in the absence of an immediate restart of oil production and because of the state’s failure to provide the requested budget”.

Reporting By Angus McDowall; Editing by Edmund Blair

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below