BusinessLibya

Oil Production to be cut by 95% if war continues in Libya: NOC

If a settlement is not reached in Libya to put an end to the civil war and instability in the capital, oil production will be cut by 95 percent, Chairman of the National Oil Corporation (NOC) Mustafa Sanalla warned Saturday.

This came during a press statement issued ahead of the Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) in Jeddah, Saudi Arabia.

His statement came a few hours after a terrorist attack was carried out near near Zella oilfield earlier on Saturday, where two guards were killed and four others were kidnapped.

The attackers, who are affiliated to the Islamic State (IS), hit the entrance gate of the field, located near the town of Zella, about 760 kilometers from southwestern Tripoli.

The field, which belongs to Zueitina Oil Company, pumped an average of 19,000 barrels per day in the last quarter of 2018, according to Reuters.

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