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Libya production back to normal for OMV

July 16, 2013 at 7:03 AM   |   Comments

VIENNA, July 16 (UPI) -- Austrian energy company OMV said its oil production levels in Libya were back to normal following nearly a month of disruptions.

OMV confirmed last week its production had been shut down in Libya since June 25 "due to the current political situation."

Libyan oil production has struggled to return to pre-revolution levels of 1.6 million barrels per day. Oil installations in the country have been attacked by militant groups and workers at two oil fields had gone on strike to oppose existing management.

The Austrian company said Monday it was able to restore production levels in Libya as of last week. The company said in February oil production from Libya accounted for financial gains in 2012 and said this week Libya accounted for nearly 10 percent of its overall production.

The Organization of Petroleum Exporting Countries said in its July report Libya, Nigeria, Angola and Iraq led in terms of crude oil output decreases. Production for June, the last full month for which data is available, was 1.28 million barrels per day, an 11 percent decline from May.

© 2013 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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