Libya Pumped 1.36 Million Barrels of Crude Feb. 4, NOC Says

Libya produced 1.36 million barrels a day of crude on Feb. 4, up from a daily average of 1.12 million barrels in January, the state-run National Oil Corp. said.

The country pumped a combined 1.42 million barrels of crude plus condensate on that day, up from an average of 1.18 million barrels a day in January, the NOC said in releases posted on its website. The holder of the largest oil reserves in Africa has the capacity to produce 1.79 million barrels, according to data compiled by Bloomberg. It also produced 2.01 billion cubic feet of natural gas.

Libya is restoring crude production after most output was stopped during fighting last year that led to the ouster of Muammar Qaddafi in October.

The nation will return its crude production to pre-conflict levels in the third quarter and is seeking to raise output to 2 million barrels a day in three to five years, Oil Minister Abdul-Rahman Ben Yezza said Dec. 14 in Vienna while attending a meeting of the Organization of Petroleum Exporting Countries.

Libya exported 32.29 million barrels of crude in January, the NOC said. Its Zawiya, Sarir and Tobruk refineries consumed 4.35 million barrels last month or about 140,000 barrels a day. The country’s five plants have processing capacities totaling 400,000 barrels a day, according to data compiled by Bloomberg.

Libya Feb. 4 crude output                      1.36m b/d
Libya Feb. 4 crude plus condensate output      1.42m b/d
Libya January crude output                     1.12m b/d
Libya January crude plus condensate output     1.18m b/d
Libya January crude export                    32.29m barrels
Libya Refinery crude consumption               4.35m barrels

To contact the reporter on this story: Robert Tuttle in Doha at rtuttle@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net

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