Libya production increases to 1.3 million barrels per day

Oil production in the country has now resumed following the eight-month war.

“The National Oil Corporation announced…that the production of crude oil has reached 1.3 million barrels per day,” said a statement on its website.

Libya pumped some 1.6 million bpd before the February uprising, but civil war brought flows to a standstill, cutting off exports of around 1.3 million to the international market.

Libya’s Waha Oil, a joint venture with U.S. firms ConocoPhillips , Marathon and Amerada Hess, began crude oil production at the Dahra and Samah fields at a rate of 16,000 bpd. This is the most recent resumption of oil production in the country.

Libya holds the largest oil reserves in Africa.

Source: OilVoice


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