Libya oil production set to reach 3-year high by December
October 13 2016 09:30 PM

A general view of the Hariqa oil port and loading installation in Tobruk, Libya (file). Libya’s oil production is set to reach a three-year high by December as fields restart and ports reopen after five years of armed conflict crippled sales, Bloomberg reported. Output is now 540,000 bpd and will reach 900,000 barrels by the end of the year, Libya’s National Oil Corp chairman Mustafa Sanalla has said. That would be the highest production since June 2013, according to data compiled by Bloomberg. Libya, with Africa’s largest crude reserves, has increased oil output after the NOC reached an agreement last month with Khalifa Haftar, commander of the armed forces controlling key oil ports. Shipments were able to resume from ports including Ras Lanuf, Es Sider and Zueitana, leading Germany’s Wintershall to resume output in the As Sarah oil field on September 16. The country produced about 1.6mn bpd of oil before the 2011 uprising that ousted Muammar Gaddafi.

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