Showing posts with label Arab Gulf Oil Co.. Show all posts
Showing posts with label Arab Gulf Oil Co.. Show all posts

Wednesday, August 31, 2016

Funding lapses blamed for Libyan output woes - OIL & GAS JOURNAL

HOUSTON, Aug. 31
08/31/2016
By OGJ editors


Libya’s reconstituted government is receiving blame for failure of oil production to recover from a slump caused by civil war and for the related loss of income.

The Petroleum Facilities Guard said it will close Gulf and Al Wafa oil fields in southern Libya because it hasn’t been paid for security services, Reuters reported.

The group earlier reached an agreement with the Presidency Council to open the Ras Lanuf, Es Sidra, and Zuetina terminals, but Reuters said the facilities remain closed (OGJ Online, Aug. 1, 2016).

The security force had claimed to be blockading the terminals to resist corruption and illicit oil sales. As part of the agreement to reopen the ports, it was to receive funds said to be overdue salary payments.