ID :
205747
Wed, 09/07/2011 - 11:22
Auther :
Shortlink :
https://oananews.org//node/205747
The shortlink copeid
Oil Prices Likely to Soar as Libyan Oil Official Says Output will Remain Low
TEHRAN (FNA)- The newly appointed chairman of Libya's National Oil Company, Nuri Berruien, warned of a fuel crunch situation.
Berruien said Libya's oil production will not return to pre-conflict levels until late next year.
According to Berruien, many of Libya's oil facilities have suffered heavy damage and looting during the uprising and NATO air strikes on the country.
As a result, Libya won't be producing its average 1.6 million barrels a day until the end of next year or even early 2013.
His remarks has caused concern among major oil consuming states which hoped to boost supply after the victory of the revolution in the Arab-African state of Libya.
Berruien said Libya's oil production will not return to pre-conflict levels until late next year.
According to Berruien, many of Libya's oil facilities have suffered heavy damage and looting during the uprising and NATO air strikes on the country.
As a result, Libya won't be producing its average 1.6 million barrels a day until the end of next year or even early 2013.
His remarks has caused concern among major oil consuming states which hoped to boost supply after the victory of the revolution in the Arab-African state of Libya.
