Showing posts with label NC 97 Concession. Show all posts
Showing posts with label NC 97 Concession. Show all posts

Monday, June 19, 2017

Libya's Oil Output Rises To 885,000 Bpd Following Wintershall Deal - RIGZONE / REUTERS

Monday, June 19, 2017Ahmad Ghaddar, Editing by Jason Neely

LONDON, June 19 (Reuters) - Libya's oil production has risen by over 50,000 barrels per day (bpd) to 885,000 bpd after the state oil firm settled a dispute with Germany's Wintershall that had slashed production by some 160,000 bpd, a Libyan oil source told Reuters on Monday.

Last week, the National Oil Corp said it expected OPEC member Libya's production to recover to 900,000 bpd in the short term.

The NOC and Wintershall reached an interim agreement last week on an upstream contract dispute that began earlier this year.