Libya Business News
Friday, March 31, 2023
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
No Result
View All Result
Libya Business News
  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos
Libya Business News
No Result
View All Result
Home Investment

JP Morgan: Libyan Oil Output to Reach 1.3 Mbd by Mid. 2012

12th December 2011
in Investment, Oil & Gas
JP Morgan: Libyan Oil Output to Reach 1.3 Mbd by Mid. 2012
Share on FacebookShare on Twitter

Analysts at the major U.S. investment bank JP Morgan revised up their forecasts on the Libyan oil production level to 1.3 million barrels per day.

According to the analysts' monthly report on oil market, Libya can reach such a production level by the end of the second quarter of 2012.

Earlier, analysts predicted the Libyan oil production to rise to 1.2 million barrels per day by late 2012.

"Following the stellar rehabilitation of Libya's production, we have revised up the rate of recovery, and estimate that Libya could be producing 1.3 mbd by the end of the second quarter," the analysts said in their report.

JP Morgan's analysts envisage that Libyan output level hit around 900 kbd by late 2011.

This is 150 kbd more than last month's projection and almost treble the early-September estimate.

The average Libyan production level for 2012 is projected at 1.24 mln bpd.

According to the Libyan National Oil Company, oil production in the country has reached 840,000 barrels per day. The country's target is to reach a production level at 1.6 million barrels per day.

Libya's proven oil reserves are 45 billion barrels. Before the Libyan crisis, the country produced 1.6 million barrels per day and 1.3 million barrels of these volumes were exported.

(Source: Turkish Weekly)

Tags: JP MorganNOCProduction

Latest News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021
Latest Oil Tenders

Latest Oil Tenders

16th March 2021

Recent News

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

Enterprise Greece Delegation in Libya to Develop Bilateral Business Ties

4th October 2021
Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

Dbaiba Meets with Eni's CEO Descalzi to Discuss Areas of Cooperation in Libya

22nd March 2021

Categories

  • Security
  • Oil & Gas
  • Industry
  • Politics
  • Construction
  • Finance
  • Tenders
  • Transportation
  • Videos

Menu

  • Home
  • About Us
  • Contact

Join our mailing list!

Sign-up to receive email updates on the latest news and developments.





© 2021 Libya Business News - Your Libyan business news partner

No Result
View All Result
  • Security
  • Oil & Gas
  • Banking & Finance
  • Politics
  • Industry & Trade
  • Construction & Engineering
  • Investment
  • Tenders
  • Transportation
  • Videos
  • Contact Us

© 2021 Libya Business News - Your Libyan business news partner

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “I Agree”, you consent to the use of ALL the cookies.