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Page added on September 21, 2013
Libyan oil production rebounding
Oil production from Libya should be up to about 700,000 barrels per day, with some fields returning to service, an oil company official said.
Mustafa Sanalla, a board director at National Oil Co., told investors in London this week oil production should nearly double from the 243,000 barrels per day reported recently because of the restart of al-Sharara and el-Fil fields.
“I believe that it will be to 700,000 barrels by Friday,” the Libya Herald quoted him as saying.
National Oil said Tuesday it lifted suspensions imposed on Mellita and Zawai export terminals “due to the improvement of circumstances.”
Banditry and federalist campaigns in parts of Libya have suppressed the country’s oil potential. It was producing approximately 1.6 million barrels per day at its peak before the Libyan civil war in 2011.
The United Nations this week called on Libya to get the oil situation under control.
Libya relies on oil for approximately 80 percent of its gross national product and 97 percent of its export revenue.
5 Comments on "Libyan oil production rebounding"
actioncjackson on Sat, 21st Sep 2013 12:39 pm
I just saw this and want to share it with you guys in case you haven’t seen it, video.
http://www.zerohedge.com/news/2013-09-17/canadian-billionaire-predicts-end-dollar-reserve-currency-warns-its-likely-get-ugly
DC on Sat, 21st Sep 2013 3:49 pm
No, its not ‘rebounding’, or anything remotely like that. Libya’s oil extraction is way down since US terrorists overran the unfortunate country a year ago under the usual ginned up pretexts.
Prior to US launching operation-Liberate Libyas Gold and Oil, oil production was doing just fine tyvm. Then ‘Al-CIAda’ shows up-and everything goes for shyt.
rockman on Sat, 21st Sep 2013 5:28 pm
I suppose it depends on how one defines “rebound”. Production has increased significantly but still only at 40% of prior levels.
http://www.voanews.com/content/libya-oil-output-surges-as-fields-reopen/1752346.html
BillT on Sun, 22nd Sep 2013 1:51 am
Similar to the US ‘rebound’ that has taken it to 67% of it’s all time high in 1970. Yes, The US oil production peak WAS in 1970, not 2013, according to the EIA. ^_^
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPUS2&f=A
DC on Sun, 22nd Sep 2013 3:16 am
The US installed lackeys, many of whom where kept in warm storage in US universities or ‘think-tanks’ in the US or whatever, in many cases, a lot of them could be called ‘Libyan’ only on a technicality, have clearly not been up to the task of keeping Libyan oil profits flowing in the right direction.
Namely US and select EU satraps pockets.
Its fair to say, they have succeeded in destroying Libya as a stable nation(the real goal all along), AND as an added bonus-managed to almost stop oil production entirely.
WtG team O-bomber!