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FINANCIAL NEWS
Libya oil output on track to pre-uprising levels: OMV
21 Jul 2012
(MENAFN) A report issued by Austrian oil firm OMV showed that Libyan oil output is on track to reach the level it had been before the uprising that overthrew Muammar Gaddafi, Reuters reported.
OMV’s total production rose to 305,000 barrels of oil equivalent per day in the second quarter of the year from 299,000 in the previous quarter, helped by Libya’s output as well as higher production in New Zealand, the company said.
The increase, however, was partly offset by lower production in Romania and Austria, OMV added.
Libya had represented a tenth of OMV’s output worldwide in 2010 prior to the civil war that ignited in Libya and stopped production last year.
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