TRIPOLI (Bloomberg) -- Libya’s state crude producer is seeking to reopen oil ports and restore crude output as the fractured OPEC nation struggles to reunite after five years of civil strife, according to its chairman.
Four ports accounting for about 860,000 bpd in crude exporting capacity have been shut due to political turmoil and fighting. Libya now produces a fraction of the 1.6 MMbopd that it pumped before the toppling of ruler Moammar Al Qaddafi in 2011. A July 2 deal uniting the National Oil Corp.’s rival administrations enables the company to focus on reviving Libya’s crippled oil industry, Chairman Sanalla Ibrahim said.
