Date: 5 months ago   Category: Economy

In Libya oil production has reached a maximum since October, 2014 - RIA Novosti, 5/8/2017


Oil pumping units. Archival photo
MOSCOW, on May 8 – RIA Novosti. Oil production in Libya has reached the level, maximum since October, 2014 — about 780 thousand barrels a day, Bloomberg with reference to the source familiar with ситуацией.© reports the agency to RIA Novosti. Ilya Pitalevpereyti in fotobanksm have reported about suspension of oil production on the largest field Liviiv October, 2014, according to the estimates of the agency, oil production in Libya made 850 thousand barrels a day. Last week the National oil company National Oil Corp of Libya. (NOC) has reported that oil production in the country has reached 760 thousand barrels a day — a maximum since December, 2014. The company noted that it plans to continue to increase production. Growth of an indicator is in many respects provided with increase in production on the largest oil field of Libya of Sharara. The output on it makes 225 thousand barrels a day, the interlocutor of the agency has reported. At the same time the production capacity of the field is estimated at 330 thousand barrels a day. Besides, production on the field El Fil (El Feel, Elephant) grows on whom work has been suspended in April, 2015, but I was resumed last month, Bloomberg writes. Its production capacity makes 90 thousand barrels in сутки.© RIA Novosti. Andrey Steninpereyti in a fotobankliviya I have restored oil production on the largest field страныРост oil production in Libya, along with increase in production of "black gold" in some other countries, first of all in the USA, can become an additional obstacle for efforts of the countries of the agreement on reduction of oil production on market stabilization. At the same time Libya, as well as Nigeria, under the terms of the Vienna transaction, have been freed from obligations for decrease in production. The OPEC in Vienna has agreed on November 30, 2016 about reduction of the production on 1,2 million barrels a day from October level. Eleven countries which aren't entering into OPEC have coordinated on December 10 reduction of the production totally on 558 thousand barrels a day, including Russia on 300 thousand. The agreement is concluded on the first half of the year 2017 with a possibility of extension. The decision on destiny of the agreement will be made in Vienna on May 25.

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