São Paulo – Lebanon’s oil output increased to 555,000 barrels per day this week, according to information released by the Libyan National Oil Company (NOC) and published by news agency Panapress. Last week, output averaged at 470,000 barrels per day. The increase was due to the resumption of production at some production facilities that had been shut down by protesters.
Before the 2011 revolution that ousted dictator Muammar Gaddafi, Libyan oil production averaged at 1.6 billion barrels per day. It plummeted and then rose again to 1.5 million barrels two years ago. However, output dropped again after oil fields and ports were closed by protesters, whom the government is now trying to control.
*Translated by Gabriel Pomerancblum
