Audio By Carbonatix
Libya expects to return crude oil output to pre-war levels of around 1.6m barrels per day (bpd) by the end of 2012, the head of the country's National Oil Corporation has said.
Nuri Berouin said output has arisen to 600,000 bpd, and expects to add another 200,000 a day by the end of 2011.
He said that repairs to the oil sector's infrastructure will cost "hundreds of millions of dollars".
Mr Berouin was speaking at an economic forum of gas exporters, held in Qatar.
"Our production has reached 600,000 bpd of which 140,000 bpd go to (local) refineries," said Berouin, with the remaining 460,000 bpd for export.
The uprising in Libya virtually shut the country's oil industry, and exports only resumed in September.
Last week, the Paris-based International Energy Agency said that production in Libya was resuming faster than had been expected after a key pipeline was repaired.
It is estimated that more than 10% of the [Organisation of Petrolium Exporting Countries] Opec member's oil infrastructure was severely damaged during the eight-month rebellion.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Galamsey is becoming a national survival issue – Annoh-Dompreh
7 minutes -
Beyond State Funding: NSA Inaugurates Deen-led team to power Ghana’s sports reset
13 minutes -
Jason Arday death ‘tragedy on so many levels’ says PM Burnham
13 minutes -
NPP has never used nolle prosequi to shield appointees – Baffour Awuah
18 minutes -
A-G owes it a duty to the State even if we don’t trust him – Dr Bomfeh on AKSA bribery probe
35 minutes -
A Plus dismisses claims poor English explains his limited role in Parliament
44 minutes -
Unauthorised drone flights banned at Manhyia Palace
1 hour -
Aksa bribery scandal: Ghana’s probe must be pursued with speed – Dafeamekpor
1 hour -
Samson’s Take: When religion threatens peace, sanity must prevail
2 hours -
Friendship: Why time matters less than continuity
2 hours -
Africa’s AI moment: They say data is the new gold. But who is drilling it?
2 hours -
Ghana delivers strong performance in retail market in half-year; value up 15.6% – Maverick Research
2 hours -
The world’s oldest president left for a ‘brief stay’ in Europe. He hasn’t returned in two months
3 hours -
Parliamentary committee commends GIPA’s investment drive, backs key reforms
3 hours -
Livestream: Newsfile discusses AKSA energy deal, legal vacation and GoldBod losses
3 hours