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Libya cuts oil production and exports

Oil&Gas Materials 27 May 2013 18:32 (UTC +04:00)

Azerbaijan, Baku, 27 May / Trend, A. Taghiyeva /

In April 2013, Libya exported 43.7 million barrels of oil, or 28 percent more compared to March, the Libyan National Oil Company reported on Monday.

In March 2013, Libya exported 36 million barrels of oil.

According to the report, 37.2 million barrels of the total volume of exported oil were exported by the National Oil Company; the rest falls on the share of private companies. Thus, in April 2013,

Libya exported on average 1.4 million barrels of oil per day.

Oil production in Libya in April amounted to 1.6 million barrels per day. The total volume of oil production in April comprised 48 million barrels.

According to the report, in April 2013, the major portion of Libyan oil was exported to Italy - 12.9 million barrels (30 percent of total exports), France - 3.7 million barrels (12 percent), China- two million barrels (6.5 percent).

During the reporting month, Libya exported 997,000 barrels of oil to Turkey (2.9 percent). In general, Libya exported oil to 17 countries in April.

4.3 million barrels of oil were directed to meet the needs of the domestic market, according to the report.

Libya is the eighth largest producer of oil among the 12 member states of the Organization of Petroleum Exporting Countries (OPEC) and third in Africa after Nigeria and Angola.

Libya's proven oil reserves total 45 billion barrels. Libya was producing 1.5 million barrels of oil per day prior to the revolution. Oil exports restarted in 2012.

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