Libya Capable of Producing 1m bpd

The chairman of the National Oil Corporation (NOC), Mustafa Sanallah, has said that Libya is capable of producing one million barrels per day of crude oil.

Speaking at the Platts Global Crude Oil Summit in London, he said Libya was working hard to return production to pre-revolution volumes.

Production levels are expected to average 400,000 bpd this year, down from around 1.6 million bpd before the revolution.

According to the report from Oil Review Africam, Sanallah added that the NOC was maintaining a dialogue with tribes which had closed terminals and blockaded oilfields, adding that the company had maintained its neutral position despite the existence of two rival governments.

(Source: Oil Review Africa)

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