[size=30]Libya: will not reduce oil production[/size]
27/11/2016 08:16 | Number of Views: 186 font size:
National Oil Corporation of Libya announced that it will not cut crude production in the "foreseeable future," it seeks to increase its production up to previous levels before the outbreak of the conflict in the country.
The organization said in a statement on Sunday November 27, Mustafa made by God, Chairman of the Board informed to participate in the Arab Economic Forum Austrian in Vienna delegations Friday that the economic situation in Libya dangerous is can not be with him to participate in the "OPEC" output cuts in the future perspective.
And it removed Libya crude output more than doubled to reach about 600 thousand barrels per day since the reopening of a number of oil ports blockaded in September / September.
But it remains much lower than the level of production in 2011 was 1.6 million barrels per day and that the foreign exchange reserves in Libya are running out fast.
The Foundation hopes to raise production to 900 thousand barrels by the end of the year and 1.1 million bpd in 2017. jh