Eni Fears Largest Libyan Oilfield is in Ruins

Reuters reported Eni is concerned that its largest oilfield in Libya, Elephant, may be in ruins.

As quoted in the market news:

The field, which pumped 130,000 barrels of oil per day before the war, was found in ruins, with its airport completely destroyed along with crucial monitors and key electronic structures, he said.

“We cannot promise the field will start producing before the end of the year. Gaddafi’s militia destroyed everything,” Abougfeefa said.

Click here to read the full Reuters report