A North Korean-flagged tanker, the Morning Glory, is seen docked at the Es Sider export terminal in Ras Lanuf in this March 8, 2014 file photo. Credit: REUTERS/Esam Omran Al-Fetori/Files
OilPrice.com: Libya’s Oil Revenues Dip In February As Battle Over Oil Wealth Continues
Libya’s oil revenues fell in February to $1.26 billion, according to its National Oil Company, as repeated oilfield closures continue to weigh on the troubled African nation.
The oil revenues were $330 million less than January levels, while overall oil production had actually increased by 23,000 bpd in February, according to OPEC’s March Monthly Oil Market Report. Oil production in Libya fell in January to 883,000 bpd from 949,000 bpd in December 2018, rising to 906,000 bpd in February. Libya’s oil production averaged 811,000 bpd in 2017 and 952,000 bpd in 2018. March production is expected to be lifted further.
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WNU Editor: It is always about the money.
