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FINANCIAL NEWS
Libyan oil exports could return to normal in days
03 Oct 2013
(MENAFN) The Libyan oil minister said that oil exports in the country could return to full capacity once strikes are ended, Times of Oman reported.
He said that issues affecting oil production in the country is political and not a technical one as production is hampered by protestors and strikers demanding more local control.
The minister said: “Were expecting to solve this issue any time and by solving this issue we can have oil production back to 1.6 million barrels per day.”
The turmoil affecting the oil industry has cost the government USD5 billion in lost revenues, he said.
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