Libya's national oil production fell to 527,000 barrels per day (bpd) from a high of 1.28 million bpd in February following recent oil port closures, the head of the country's National Oil Corporation said in a statement on Monday.
The NOC had not previously stated how high the country's production had climbed after partially recovering to more than 1 million bpd a year ago.
In the video statement dated July 8 the chairman of Tripoli-based NOC, Mustafa Sanalla, said the February 23 closure of the El Feel oilfield due to protests led to the loss of 80,000 bpd, but output had subsequently remained around 1.1 million bpd.
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Last month it dropped sharply when an armed attack against forces loyal to eastern-based commander Khalifa Haftar at the oil export ports of Ras Lanuf and Es Sider shut both terminals down.
After Haftar's Libyan National Army repelled the attack a week later, it announced it would hand the ports and fields in the east to a parallel NOC.
Ras Lanuf and Es Sider have remained shut and tankers booked by the NOC in Tripoli, which is recognised internationally as the sole producer and seller of Libyan oil, have been unable to load.
"Our production today is 527,000 bpd. Tomorrow it will be less and the day after tomorrow less again. And we are going lower," Mr Sanalla said.
The NOC had previously estimated the production loss from the stoppage at 850,000 bpd, or $67 million in daily revenue.
Opec member Libya was pumping 1.6 million bpd or more before conflict, blockades and political splits slashed output from 2013.
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Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
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