Oil production in Libya is set to drop dramatically as leading international companies and subcontractors evacuate their staff.
Crude oil prices shot up to a fresh 2?-year high above $105 a barrel on Monday as traders braced for the impact of political unrest in Libya, the first leading oil exporting country to be hit by turmoil in the Middle East.
Wintershall, a subsidiary of Germany’s BASF, was the only company to confirm it was shutting down production.
But executives at other top oil companies privately conceded they were activating emergency plans to repatriate all their staff and shut down output. Sub-contractors were already leaving, forcing them to follow suit.
Executives asked not to be named as their companies were still in the process of evacuating staff.
The oilfields in the south of the country run by international groups have their own airstrips. Until the last employee is pulled out of the country – a process that could take as long as a few days – companies planned to keep up production. “But the last man will switch off the button,” one executive said.
Eni of Italy, the largest foreign oil company in Libya, said early on Monday that its production continued as normal, but the company declined to give any update on its operations later in the day.
Some oil traders reported problems at several oil terminals and refineries. Others said vessels were still loading.
The country is the world’s 12th-largest oil exporter and a critical supplier to European countries.
2011-02-22 17:29 编辑：kuaileyingyu