Libya's current priority to maintain oil output levels at 1.5m bpd
Date
12/10/2012 4:10:10 AM
(MENAFN) Libya's oil minister, Abdelbari Al Arusi, stated that the country's priority at the current time is to keep oil output rates at 1.5 million barrels per day, reported Gulf Daily News.
Al Arusi said that the government plans to raise output by 100,000 bpd for the next few months, however, then it would seek new oil exploration bids to boost production rate.
After the end of 2011's civil war, the country raised its production to between 1.5-1.6 million bpd, exceeding analysts' forecasts.
He stressed that the country would lift oil production by 2015 to 2 million bpd.
It is worth noting that the National Oil Corporation plans to increase output to 1.72 million bpd by end-March, however, it has warned that strikes could disrupt production.
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