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
-
T-bills auction: Government exceeds target marginally; yield on 91-day bill remains unchanged
9 minutes -
GPL 2026/27: 10-man Aduana hand Kotoko defeat in Kumasi
20 minutes -
GPL 2026/27: Medeama ease past Basake Holy Stars
53 minutes -
Appiah Adomako writes: Why DVLA must stop treating every expired licence holder as delinquent
57 minutes -
Localization must transfer decision-making power, not just project responsibilities
1 hour -
Modernising Ghana’s traditional markets through the 24-Hour Economy markets initiative
1 hour -
New economy will boost local production and create jobs – Finance Minister
1 hour -
Real-Time VAT on cross-border digital services – not a new tax and does not violate double taxation principle
2 hours -
Digitalisation, AI key to Ghana’s tourism transformation – GHATOF
2 hours -
Stronger GTA-private sector partnership needed to grow tourism – GHATOF
2 hours -
Amazon eyes Ghana for broadband expansion after talks with Mahama
3 hours -
National Investment Quiz 2026: Six schools qualify for quarter-finals
4 hours -
‘Do not let Russia pay for its madness with lives of your people’ – Zelensky to Ghana, 46 other countries
4 hours -
6,079 promotion cases fully processed and paid – CAGD says amid nationwide teachers’ strike
4 hours -
Teacher unions to meet government Monday over nationwide strike
4 hours