FINANCIAL NEWS

Libya’s oil output to reach pre-war levels by end of 2012

25 Nov 2011

(MENAFN) Libya’s National Oil Corporation (NOC) said that by the end of 2012, the country’s oil output would reach pre-war levels, reported Arab News.

The NOC added that production in the country grew to reach 750,000 barrels per day (bpd), compared with 1.6 million bpd before the start of the civil war in the country.

On the other hand, it said that the Zawiyah refinery returned to its full capacity of 120,000 bpd, increasing the country’s onstream refining capacity to 160,000 bpd.

It is worth noting that Libya previously promised to scrutinize all oil agreements inked during the rule of Muammar Qaddafi.

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