Libya’s Oil Output Can Reach 800,000 Barrels by End of 2011

Libya’s Oil Output Can Reach 800,000 Barrels by End of 2011

By Robert Tuttle and Nayla Razzouk
Bloomberg

Libya, the holder of Africa’s biggest oil reserves, will produce as much as 800,000 barrels of crude a day by the end of this year, the chairman of state-run National Oil Corp. said.

….The nation currently pumps 600,000 barrels a day, he said, adding in comments to reporters that authorities will not award licenses to energy companies during its political transition after the death of Muammar Qaddafi.

http://www.bloomberg.com/news/2011-11-13/libyan-oil-output-can-reach-800-000-barrels-by-end-of-2011-berruien-says.html