Libya could lose 95% of oil production due to instability: NOC head
Mustafa Sanalla told reporters that instability could severly impact the nation's ability to produce oil
Mustafa Sanalla, the head of Libya's National Oil Corporation, said that the continuation of instability in Libya could lead it to lose 95% of its oil production.
“Unfortunately if the situation will continue like this I’m afraid that maybe 95% of production will be lost,” Mustafa Sanalla told reporters in Jeddah, according to Reuters, as OPEC+ ministerial panel gathers on Sunday. He noted that on Saturday, an attack occured near Zella oilfield.
"Our aim is to attract the investment. This chaos is like you fire the investors, unfortunately," S&P Global quoted him as saying. "If the situation will continue like this, I'm afraid that 95% of production will be lost."
The country is pumping around 1.3mn barrels per day (bpd), according to Sanalla.