Pieces in our time!
Posted on 10/05/2015 12:37:30 PM PDT by thackney
Libya's oil production has dropped to 300,000 barrels per day, less than a quarter of what it produced before the 2011 fall of Muammar Gaddafi, mostly because of insecurity and closed pipelines, a top official said.
The North African state is caught in a conflict between two rival governments and their armed allies -- one internationally recognised, and the other a self-declared administration that took over Tripoli last year.
Naji Moghrab, the top state oil official with the recognised government, told a local television channel late on Sunday output was at 300,000 bpd because of fighting between various armed factions and the closure of 50,000 km of oil pipeline.
Following the government split, Libya now has two rival state oil companies. One is with the recognised government and one with the Tripoli government, yielding often conflicting accounts of who controls what oil assets.
"The main problem behind the low production is insecurity, and of course the presence of Daesh near the oilfields," Moghrab said, referring the Islamic State militants....
(Excerpt) Read more at rigzone.com ...
One of the pearls of Obama’s foreign policy. I cannot wait until this asshat is gone.
Libya is a failed and looted Jihadi state. Simply because Obama and Clinton decided to turn the country on its head and assassinate Khaddafi. Now there are tens of thousands dead (including a US Ambassador) and hundreds of thousands refugees.
And what was their goal?
I’m waiting for Obama to announce he’s running for his turd term
Pieces in our time!
I wouldn't think that situation would have anyone very willing to tie up a supertanker at one of their offshore terminals.
Is there anything in the world more vulnerable than an offshore crude terminal?
“And what was their goal?”
Same as Yemen, Syria, Egypt, Iraq. A radicalized muslim caliphate that will be blown to bits by the communists in the final showdown for global supremacy.
If the original production were in the market, gas prices could be even lower.
Some will take great risk for the possibility of a tanker full of low priced oil. They don’t take that risk and pay full market price.
Libya’s Tripoli govt captures Russia-flagged tanker smuggling oil
http://news.yahoo.com/libyas-tripoli-govt-captures-russia-flagged-tanker-smuggling-075600157.html
September 17, 2015
Military forces allied with Libya’s self-declared government in Tripoli said on Wednesday they had captured a Russian-flagged oil tanker and its crew trying to smuggle oil from the port of Zawara.
Twafik Alskir, a senior official with Tripoli-allied naval forces said 11 Russian crew had been detained. Alskir said the tanker and crew had been taken to Tripoli port.
Wow.
After the smuggler tanker got captured, I’m sure the sellers refunded the money, right?
Heh heh.
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