Libya's Arabian Gulf Oil Company resumes limited output current ongoing export halt
(MENAFN) On Sunday, a reported claimed that the Arabian Gulf Oil Company in Libya has restarted oil production at a rate of up to 120,000 barrels per day, primarily to address domestic needs, although exports remain suspended. This decision follows a recent dispute among armed factions that led to the closure of most of Libya's oil fields. The Arabian Gulf Oil Company, which operates the Sarir, Masla, and Nafoura fields, issued a directive on Saturday to resume limited production. Engineers, speaking anonymously due to media restrictions, indicated that this production level is intended solely for supplying power plants and meeting local fuel demands, rather than for export purposes.
The resumption of production comes amid heightened tensions over the control of Libya's central bank, which have escalated regional instability. The eastern-based administration, which oversees the majority of the country's oil fields, is in conflict with the western authorities over the recent replacement of the central bank governor. This position is crucial given Libya's divided factions' competition for control over oil revenues, a key asset in the country's ongoing power struggle.
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