Libya’s Azzawiya Stops Refining Operations Due to Lack of Crude

OILMONSTER.COM- Libya’s Azzawiya Oil Refining Company said on Sunday it was forced to stop refining operations due to a lack of crude supplies and no inventory.

Azzawiya Oil Refining Company is a subsidy of Libya’s state of firm the National Oil Corporation (NOC).

Oil output in Libya has fallen sharply since Jan. 18 because of a blockade of ports and fields by groups loyal to eastern-based commander Khalifa Haftar.

Libya’s oil production had dropped to 181,576 barrels per day (bpd) by Thursday from about 1.2 million bpd before the stoppage.

The NOC said the losses from the blockade amount to about $1.042 billion.

 Courtesy: www.reuters.com