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Reuters reports that oil production by Agoco is down to about a third of normal levels due to the unrest in Libya.
Reuters reports that oil production by Agoco is down to about a third of normal levels due to the unrest in Libya.
The market news is quoted as saying:
The Arabian Gulf Oil Co (Agoco), a unit of the Libyan state oil firm National Oil Corp (NOC), is based in Benghazi, an eastern city in rebel hands. An executive said on Monday that it would operate independently of its parent until Gaddafi fell.
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