LIBYA: Libyan oil output down sharply during unrest

Record ID: 343480

  • Title: LIBYA: Libyan oil output down sharply during unrest
  • Date: 10th March 2011
  • Summary: TRIPOLI, LIBYA (MARCH 9, 2011) (REUTERS) SHOKRI GHANEM, CHAIRMAN OF LIBYA'S NATIONAL OIL CORPORATION, WALKING IN TO NEWS CONFERENCE JOURNALISTS (SOUNDBITE) (English) SHOKRI GHANEM, CHAIRMAN OF LIBYA'S NATIONAL OIL CORPORATION, SAYING: "Well of course the oil production went down drastically, now the production is only about half a million barrels from one point six and
  • Embargoed: 25th March 2011 12:00
  • Keywords:
  • Location: Libya
  • Country: Libya
  • Topics: Domestic Politics,Energy
  • Reuters ID: LVA55M38VK9QR0HQ7NVIC2T9MGTH
  • Story Text: Unrest in Libya has cut oil output to about half a million barrels per day from 1.6 million bpd, the country's top oil official says.
    Unrest in Libya has cut oil output to about half a million barrels per day (bpd) from 1.6 million bpd as many foreign and local workers left the oil fields, the country's top oil official said on Wednesday (March 9).
    "Well of course the oil production went down drastically, now the production is only about half a million barrels from one point six and there are so many reasons. I try to summarise for you to begin with when this problem started of course the main important thing for us was the safety of the people in the desert and the safety of the installations," Shokri Ghanem, chairman of Libya's National Oil Corporation, told journalists in Tripoli.
    He added that some OPEC member countries had said they would make up for this shortfall and he believed they would.
    Ghanem said Libya's oil industry has remained largely intact through the unrest.
    "Luckily of course nothing of sabotage has happened only today one of these small tanks in Sedra which is a small diesel tank of 200 barrel that caught fire but otherwise the integrity of the oil installations is maintained," he said.
    Ghanem also said the price of oil went up because people panicked.
  • Copyright Holder: REUTERS
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