Protesters have compelled the shutdown of two major oil export terminals in Libya, Ras Lanuf and Es Sider, as part of escalating tensions over the distribution of oil wealth.
The closures, demanded by the Oil Crescent Region Movement, are expected to commence today, with reports indicating that at least one tanker has already cancelled its loading schedule.
The Oil Crescent Region Movement is urging the relocation of the headquarters of five local energy companies to the western region of Libya, which encompasses much of the country’s oil industry.
The group has threatened to halt all production and exports across the nation if the National Oil Corporation (NOC) does not comply with their demands.
The NOC has yet to issue an official response regarding the shutdown. However, in a recent update, it reported that Libya’s daily crude production stands at 1.41 million barrels, with an additional 43,700 barrels per day of condensates, bringing the total output to 1.65 million barrels daily.
Despite the challenges posed by political instability and periodic protests, Libya’s government aims to increase daily crude production to 2 million barrels by the end of the year.
The NOC has also announced plans to tender 22 new onshore and offshore exploration blocks, hoping to attract foreign investment despite the volatile environment.
