Libya plans in the next two weeks to increase oil production from the current 400 thousand barrels per day to 550 thousand, and by the end of the year to increase this figure up to 900 thousand barrels. About it writes The Wall Street Journal, citing the Libyan National oil Corporation.
Now the company has no ability to increase production because oil exports from the country is practically blocked. In particular, local armed groups (including terrorists of the banned in Russia “Islamic state”) have restricted the supply of oil through the ports Swetina, es-sider and RAS lanuf, total capacity of which is 600 thousand barrels per day. In recent months, after they took about 100 thousand barrels.
National oil Corporation has received additional government funding and the resulting ability to export will be enhanced. To reach the mark of 900 thousand barrels will be able, if Libya will be able to negotiate with the militants.
July 28, analysts at Bank of America made a return of oil prices to around 35-40 dollars a barrel. Conditions this fall called global recession or a major shock event, which will lead to a sharp increase of supply on the market. One such event the Bank believes a full load of production capacity in Libya.
After the overthrow of Libyan leader Muammar Gaddafi in the 2011 civil war that erupted following this, the country has two governments: democratically elected and recognized by the international community working in Tobruk and the Islamist — in Tripoli. On December 17, the parties with the mediation of the United Nations signed an agreement establishing a government of national unity.
