facebook
twitter
search
search

Libya claims oil output growing

Oil production highest in more than a year, NOC says.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   Sept. 2, 2014 at 7:30 AM
| License Photo

TRIPOLI, Libya, Sept. 2 (UPI) -- Though the country is facing one of its toughest post-war challenges, Libyan oil production continues to gain traction, a state energy company said.

Libya's National Oil Corp. said oil production is the highest it's been in more than a year.

"Libyan oil production is 700,000 barrels per day," the NOC said.

The Libyan government brokered a deal in April with eastern rebel leaders to re-open oil export terminals. An eight-month blockade from rebels seeking more autonomy for the region known as Cyrenaica had cut Libya's oil export potential dramatically.

Libya since the end of civil war in 2011 has struggled to maintain a stable level of oil production. Early 2014 output had been limited to around 250,000 bpd.

The Organization of Petroleum Exporting Countries said production in July, the last full month for which data are available, was close to 450,000 bpd and more than double the June level.

The production increase comes as a new government sought refuge in eastern Libya and Tripoli fell into the hands of rival militias.

Like Us on Facebook for more stories from UPI.com  
Latest Headlines
Top Stories
Reddit CEO Ellen Pao apologizes for firing scandal
Report: Brazil's Petrobras wading dark waters
Baker Hughes wins Johan Sverdrup contract
Iran envisions post-sanctions oil era
Eni starts production at giant Venezuelan gas field