Energy companies to be at September oil conference in Libya

Aug. 2, 2013 at 5:57 AM

TRIPOLI, Libya, Aug. 2 (UPI) -- Delegates from national and multinational energy companies will address Libyan oil production at a September energy forum in Tripoli, the event organizer said.

Libyan Oil Minister Abdelbari al-Arusi and Nurri Burruein, chairman of the National Oil Co. of Libya, are scheduled to outline opportunities to investors during the conference, CWC said.

Representatives from Italian energy company Eni and Spain's Repsol are among those scheduled to speak, the Libya Herald reported Friday.

The announcement cane while violence in Libya presents challenges for energy companies in the country.

Libya has struggled to bring oil production back to the 1.6 million barrels per day reported before its civil war in 2011.

The International Monetary Fund reports the oil and natural gas sector dominates the Libyan economy.

Arusi said earlier this week oil production from Libya was down substantially because of militant activity and labor protests.

The Organization of Petroleum Exporting Countries said Libyan 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.

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