Tag Archives | Oil Output

Oil Output up to 554,000 bpd

By John Lee. The Chairman of the National Oil Corporation (NOC), Mustafa Sanallah, said on Thursday that oil production has exceded 554,000 bpd, and is on track to hit 900,000 bpd by the end of the year. Sanallah has been in Paris where he had talks with French oil firm Total, and Italy’s ENI. According […]

Libya’s Agoco Oil Output to Pass Pre-Conflict Levels, IOD Says

Libya’s state-owned Arabian Gulf Oil Co.’s crude output could reach 450,000 barrels a day by the end of the year, surpassing pre-conflict levels, International Oil Daily reported, citing unidentified company officials. The company known as Agoco is now producing about 400,000 barrels a day, IOD said. The additional output will come from the company’s Messla […]

Libyan oil industry makes startling recovery

After Libya's civil war, experts pessimistically predicted a recovery in the country's oil industry could stretch on for as long as three years. Work camps had been looted and left bereft of phone and internet links, export terminals were damaged and at one point in the fighting, production fell to 45,000 barrels per day (bpd), less than […]

Libya on track to reach 3 million barrels per day

Libya's oil industry has revived its oil production faster than many in the industry predicted after the eight-month civil war that damaged export terminals and left oil facilities looted. Officials of the transitional government expect to reach pre-war output of 1.6 million barrels per day (bpd) by the end of next month. At the centre […]

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Libya Oil Output Nears 1.6 Million Barrels a Day, NOC Says

Libya’s crude oil output has risen to “almost” 1.6 million barrels a day, Nuri Berruien, chairman of the state-run National Oil Corp., said in a telephone interview from Tripoli. The North African country, which is rebuilding its oil industry after the war that ousted former leader Muammar Qaddafi last year, produced 1.465 million barrels a […]

ENI profits soar 42% as Libya output resumes

Italian oil giant ENI said that its first quarter net profit soared 42 per cent to €3.617 billion on the resumption of production in Libya and higher crude prices. Overall output, however, fell slightly by 0.6 per cent to 1.674 million barrels of oil equivalent per day, although the company said it was expecting production […]

OMV says Libya output hits 25,000 bbl/d in Q1

Austrian energy group OMV's output from Libya rose to around 25,000 barrels per day in the first quarter, it said in a trading statement on Tuesday. "Overall production increased compared to the previous quarter mainly due to the recovery of production in Libya (average production in Q1/12 of approximately 25,000 bbl/d). This increase was, however, partly […]

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Libya spurs Opec crude production

Opec oil output has risen in March to its highest since October 2008 as higher supply from Iraq and further recovery in Libya's production offset a drop in shipments from Iran, a survey found yesterday. Supply from the 12 Opec members has averaged 31.26 million barrels per day, up from 31.16m bpd in February, the […]