Libyan Production Continues its Climb

Monday, January 13, 2014

Production in Libya is continuing to inch up, barrel by barrel. According to Oil Minister Abdelbari Al Arusi production rates have reached over 650,000 bpd and he expects them to continue to rise drastically in the near future.

Al Arusi chaired a meeting of top oil managers in his ministry and top CEOs in Libyan oil companies including NOC chairman Nuri Berrueen. Berrueen said Libya will attain the 1.0 million bpd mark within three weeks.

The numbers released by Al Arusi far exceed the production rates reported near the end of 2013. At the end of December a Ministry statement carried by state news agency LANA said production was at 250,000 bpd, meaning that Libya has more than doubled its production in a two-week span.

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