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Libya’s Oil Ministry Opens Branch in Benghazi City, NOC Says

Libya’s Oil Ministry opened a department in the eastern city of Benghazi as part of the government’s push to decentralize and improve its administration, state-owned National Oil Corp. said.

The new office is the first of any ministry to open in Benghazi since the uprising and conflict that ended the four- decade rule of former leader Muammar Qaddafi, the Tripoli-based company said in a report on its website. Eastern Libya, where the anti-regime revolt erupted in February 2011, was marginalized economically and politically under Qaddafi.

Libya holds Africa’s largest crude reserves and ranks as the continent’s third-biggest producer after Nigeria and Angola. It pumped 1.4 million barrels a day of crude in May, according to data compiled by Bloomberg, as production continues to recover from the effects of the conflict.

To contact the reporter on this story: Ola Galal in Cairo at ogalal@bloomberg.net

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

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