Agoco cuts oil output due to protests

Tripoli, May 3, 2012

Libya's Arabian Gulf Oil Company (Agoco) has cut its oil production by 20,000 barrels per day (bpd) due to protests that have closed off its headquarters for more than a week, a spokesman said on Thursday.     

Abdeljalil Mayuf said Agoco was hopeful a solution would be found to put an end to the protests which began on April 23 as civil society groups met with the demonstrators, who have prevented employees from entering their office by obstructing the main gate.       

'We cut production by 20,000 bpd from the Sarir and Mesla fields,' Mayuf said by phone. 'We were at 370,000 bpd, now we are at 350,000 bpd.'     

Agoco, based in the eastern city of Benghazi, had threatened to cut production if no solution was found by Thursday. – Reuters

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