REPEATED shutdowns of Libya’s oil facilities amid a civil war could leave the country producing at just half its total capacity in the coming years, the National Oil Corp. said.
The OPEC member is "on track for a precipitous decline over the next year and a half as a result of the illegal blockades,” the state oil firm said Tuesday in a statement.
"Continuing the blockade only makes our long-term problems worse. It is vital that we resume oil production as soon as possible.”
Without rapid maintenance and repairs, the North African country may only be able to produce 650,000 barrels a day by 2022, the company said.
That’s barely half what Libya was pumping in January before supporters of Khalifa Haftar, who is battling the United Nations-recognized government based in Tripoli in the west, halted oil operations in the east, home to many of the largest fields and ports.
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