Home Contact Advertise
Sunday, 29 November, 2015, 7:6 ( 5:6 GMT )
Press Releases
Book Reviews

About Us

Radio Zone
Place your advert on The Tripoli Post - A3 space
Libya Oil Production Reaches 1m BPD, Expects Full Output by Mid-2012
29/12/2011 09:36:00
The Libyan oil industry continues its recovery after an eight-month long conflict that ousted former Libyan dictator Muammar Gaddafi and brought oil production, the country's main source of income to almost total halt, it is now pumping “more than a million” barrels a day.

The chairman of the state-run National Oil Corporation, Nuri Berruien told the press during a meeting in Cairo of the Organisation of Arab Petrol Exporting Countries, OAPEC, that Libya will resume normal oil production by the middle of next year.

Libya had been pumping about 1.6 million barrels a day in January, before the uprising that began in February and that eventually overthrew the Gaddafi regime after 42 years of rule.

Two weeks ago, the country's oil minister, Rahman Ben Yezza said in Vienna where he was attending a meeting of the Organisation of Petrol Experting Countries, OPEC, that Libya, which is a member of both OPEC and OAPEC, was making efforts to raise its production to two million barrels a day in three-to-five years’ time.

In Cairo, Ben Yezza confirmed that there’s a “gentleman’s agreement” within OPEC to accommodate the return of Libyan oil.

At its December 14 meeting, OPEC set a new production ceiling for the first time in three years. The agreement targets the group’s official output to 30 million barrels a day. The agreement underscores how some members are concerned oil at about $100 a barrel may sap demand amid signs Europe’s debt crisis is driving the world toward a recession, according to Bloomberg

Libya's recovery in its production rate to more than 1 million barrels a day means that its output now exceeds that of two other fellow OPEC members, Ecuador and Qatar.

According to data from Poten & Partners Inc., at least four tankers had been booked in the past few days to load 420,000 metric tons of crude oil in Libya, with the ships chartered to pick up the equivalent of about 3.1 million barrels, compared with about 2.7 million barrels booked to load on four vessels the previous week.

Meanwhile, some Arab oil ministers are reportedly scheduled to attend a gathering of Gulf Cooperation Council officials Thursday in Abu Dhabi.
Today, the Minster of Health said that she will bring qualified doctors to in Libya in order to solve the problem of sending our injured people who go abroad without appointment and encontered with delay and refusal to be admitted to hospital. what about the very expensive medical equipment! Professors and specialists cannot work properly without them, can they?

More Featured Articles
ANALYSIS: UN Envoy Says Libyan Rivals Reach ‘Consensus’ but Amendments could Jeopardize Process
UN envoy to Libya said Sunday that rival parties have reached ‘consensus’ on the main elements of an agreement. But Tripoli faction’s insistence on backtracking on an agreement initialed on 12 July will further erode trust in Bernardino Leon as peace broker and jeopardize the whole process.

Libya Says EU Needs to Cooperate with Legitimate Authorities on Illegal Immigration
While rejecting European military intervention, the legitimate government of Libya has made it clear that it is always willing to cooperate with the EU on combating illegal immigration provided that the EU consulted with it on various issues.

IS in Libya Beheads 21 Egyptians
In a Hollywood cinematography style video, shot from several angles on a beach, 21 Egyptians were beheaded by IS group in Libya. They were marched by militants in black to a beach the group said was near Tripoli, then they were forced down onto their knees.

Place your advert here

© 2015 - The Tripoli Post