November 14, 2011
Advanced Search
Home / News / Today's Headlines / Libya oil output seen at half pre-war mark by 2012

11.11.2011

Libya oil output seen at half pre-war mark by 2012

LONDON -(MarketWatch)- Libya's oil production is set to reach 750,000 to 800,000 barrels a day by the end of the year, about half its prewar level, the head of the country's National Oil Co. said Thursday. He also confirmed a giant oil field partly owned by Italy's Eni SpA E -0.29% is on the cusp of restarting production. In an interview, NOC Chairman Nuri Berruien said: "It will be 750,000 to 800,000 [barrels a day] by the end of the year," compared with about 600,000 barrels a day currently. The expected output compares with 1.6 million barrels a day the country produced before the war and comes as its production has resumed much faster than analysts had expected. Copyright 2011 Market Watch All rights reserved

Back

Copyright © 2008 Eurasia Press, Inc. (USA). All rights reserved.
Web programming by Iflexion
Copyright © 2008 Eurasia Press (www.eurasiapress.com)