Libya's oil output has declined by more than half as the ongoing unrest in the country continues, yet the state-owned National Oil Corporation has said it is coordinating with tribal leaders in the Eastern part of the country to limit damage and restore production as soon as possible, the top oil official said in published comments. “There is a decrease in production but the shipping is ongoing, production is down by a little more than half and this is due to foreigners working in the oil fields leaving because of the panic,” NOC Chairman Shokri Ghanem told Zawya Dow Jones by telephone. “We are still supervising production, transportation and exportation of oil, and the oilfields are safe; no pipeline is damaged and ports and refineries are working but at less capacity,” Ghanem continued. “Libya's oil industry is still safe and well protected.” The top oil official said the effect on production was limited because NOC owns 80-85 percent of operations in the oil sector and is coordinating operations with tribal leaders in charge of oil fields such as Nafoora. “NOC is in full communication and coordination with the oil fields, including Nafoora oil field, as everyone wants to protect this oil, this is Libyan oil,” Ghanem added. The government said it was also talking to international oil companies and calling on foreign oil workers to return so normal production can be restored, he said. “Initially we assisted international oil workers wanting to leave Libya but now they will be safe as everything is coordinated,” Ghanem said. BM
