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MENA unrest - Libya back to full oil production by mid 2012
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Sunday, 11 Dec 2011

AFP reported that the head of the Organisation of Petroleum Exporting Countries said he expected Libya to return to full pre war oil production levels by mid 2012.

Mr Abdullah El Badri Secretary General of OPEC said that the war wrecked North African nation will return to its pre war production level ‘at the end of the second quarter next year.

Mr El Badri said that the production is coming very fast and has surprised almost everybody. By the end of the second quarter of next year Libya will produce 1.58.

Last month, Libya’s National Oil Corporation said that the country has boosted its oil crude production to 600,000 barrels per day and is expected to add another 200,000 barrel per day before the end of the year.

Estimates indicate that some 10% of the OPEC country’s oil infrastructure was severely damaged during the eight-month rebellion against toppled leader Mr Muammar Gaddafi who was captured and killed in October.

Spain’s oil company Repsol said that its resumed production in Libya has reached around 200,000 barrels a day representing around 60% of its pre war production of 340,000 barrel per day.

(Sourced from AFP)

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