Most of Libya's oil production groups prepare to close down in libya AS slipped out of control of forces loyal to Muammar Gaddafi.

major oil groups prepare to close down in libya

Libya is Africa's third-largest crude oil producer after Nigeria and Angola, by pumping about 1.6 million bpd of crude oil.

After the violence that is spreading accross the country, biggest of the oil companies operational in Libya are flying out their international staff.

One of the largest companies, Wintershall officially claimed it was winding down Libyan oil production of as much as 100,000 barrels per day (bpd)

Norway's Statoil, Austria's OMV and Anglo-Dutch Shell have also vowed to shut down their business in the country as anti-government protesters were killed in Benghazi and unrest spread to the capital Tripoli over the weekend.

Most of Libya's oil production operations are located in the east of the country south of Benghazi — Libya's second city which appeared on Monday to have slipped out of control of forces loyal to Muammar GaddafiMuammar Gaddafi.