Libya's National Oil Co. is planning to increase crude exports to about 700,000 barrels a day on average in January, its chairman said Monday, as the war-torn nation brings relief to markets jittered by U.S.-Iranian tensions.
Speaking to Dow Jones Newswires, Nuri Berruien said "the monthly average will be roughly 700,000 barrels a day, plus or minus."
The shipments are sharply higher than the 290,323 barrels a day NOC's loading program had planned for December, though it's unclear if the number includes the Arabian Gulf Oil Co., which has recently marketed its oil separately.
He also said the Libyan joint ventures of Suncor Energy Inc. (SU) and of Total SA (TOT) "have been given instruction to start" their respective Ghani and Mabruk fields.
(Source: Wall Street Journal)