Hess output hit by Libya unrest

Political and military unrest in Libya has curtailed oil and natural gas producer Hess’s quarterly production and profit, forcing it to temper expectations for the year, the company said yesterday. Libya’s total exports have slumped to around 90,000 barrels per day, less than 10 per cent of capacity, as protests halted operations at ports and fields. Hess said the tensions dented third-quarter production and that it now expects full-year output to be at the low end of its guidance.