Libya’s internationally recognized government has accused its rival government in the east of “political blackmail” following protests that have led to operational curbs at the country’s largest oil field, Sharara. The statement claimed the output reduction at the field was extortion but did not elaborate on the claim. Libya’s oil production has hovered around 1.2 million barrels daily over the past couple of years, after slumping to just 100,000 bpd in the wake of the regime change in the country. Before that, Libya was producing 1.8 million barrels daily. Earlier this year, the head of the National Oil Corporation said that there were plans to boost the total to 1.5 million barrels daily by 2025 and expand it further to 2 million bpd in 2027.

Source: Libya Today August 05, 2024 08:34 UTC