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Libya ups oil production

Oil&Gas Materials 28 February 2012 12:31 (UTC +04:00)

Azerbaijan, Baku, Feb.28 / Trend, A.Taghiyeva /

Libya increased oil production by 100,000 barrels in February compared to the previous month and amounted to 1.4 million barrels per day, a report of the country's National Oil Company said its official website said on Tuesday.

According to the report, natural gas production in the country increased by 5 percent, amounting to 1.5 billion cubic feet.

As the Libyan National Oil Company told Trend earlier, the country plans to increase oil production up to 1.7 million barrels per day by the spring, which exceeds pre-revolutionary volumes.

Libya is the eighth in terms of crude oil production among the 12 OPEC countries and the third in Africa after Nigeria and Angola. The main importer of Libyan oil is Italy, followed by Germany, France and Spain.

Libya's proven oil reserves are estimated at 45 billion barrels. Before the war, Libya produced 1.5 million barrels of oil per day.

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