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Libya’s crude production to reach 800,000bpd by year-end

13 Nov 2011

(MENAFN) Nuri Berruien, chairman of Lybia’s National Oil Corp., said his country will produce 800,000 barrels of crude per day by the end of this year, Bloomberg reported.

He also said that Lybia is currently producing 600,000 barrels per day, reiterating that its oil industry will recover sooner than the International Energy Agency (IEA) predictions.

The IAE expected in its latest report this month that Libya’s output capacity will reach an average of 800,000 barrels per day in the first quarter of 2012, then rise to 1.17 million barrels per day in the fourth quarter of next year.

The country’s crude output reached close to 1.6 million barrels per day in January, before protests against the regiment of Muammar Qaddafi flared into armed rebellion.

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