Libya oil exports plunge as NOC cancels cargoes due to crisis ...Kuwait

News by : (The New Arab) -
Libyan oil exports fell around 81% last week, Kpler data showed, as the National Oil Corporation cancelled cargoes amid a crisis over control of Libya's central bank and oil revenue. The standoff began last month when western Libyan factions moved to oust a veteran central bank governor, prompting eastern factions to declare a shutdown to all oil output. Libyan ports shipped 194,000 barrels per day (bpd) on average of crude last week, down about 81% from just over 1 million bpd in the previous week, Kpler's data showed. Although Libya's two legislative bodies said last week they agreed to jointly appoint a central bank governor within 30 days, the situation remains fl

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