Libyan Oil Fields Increasing Supplies

According to Prime Minister Ali Zeidan, Libya is currently producing between 600,000 and 700,000 barrels of oil per day after striking workers, militias and political activists slowed the country’s oil production to as low as 200,000 bpd during the month of September.

Libya took steps toward resuming output in the western portion of the country during mid-September after reaching a deal with some protesters. Oil Minister Abulbari al-Arusi said on Oct. 2 that full output could be restored within days.

Prime Minister Zeidan gave a recent update saying that Oil production is now between 600,000 and 700,000 bpd, and that the government and parliament were working on solving the conflict soon.

Talks to reopen the major oil export terminals of Es Sider and Ras Lanuf in the east have taken a significant amount of time because, while some protesters are demanding better benefits, more local investment and more jobs, other protesters have linked their demands to the political direction of the future shape of Libya.

According to Reuters, protesters in the east want a federal Libya with greater powers and the headquarters of the National Oil Company (NOC) transferred to Benghazi, the capital of the east and birthplace of the revolution that removed Qaddafi from power.

(Source: Reuters)

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