S\u00e3o Paulo \u2013 Libyan oil production is up to 1.6 million barrels per day, after dropping down to 300,000 barrels a day during the civil conflict which overthrew dictator Muamar Kadafi last year. The information was released by the African news agency Panapress<\/i>, citing figures issued at the Conference on Oil, Gas and Sustainable Development which ended this Wednesday (26th) in the Libyan capital, Tripoli.<\/p>\n
Under Gaddafi\u2019s regime, Libya produced from 1.5 million to 1.8 million barrels of oil daily. The country has the second largest oil reserves in Africa, following Nigeria, and the challenge is to maintain and exceed the current output, said the Libyan Oil and Gas minister Abdel Rahman Ben Bizza. According to him, oil accounts for 70% of the country\u2019s export revenues. Specialists believe Libya will be able to produce 3 million barrels a day by 2015. The target for next year is to reach 1.8 million barrels daily.<\/p>\n
Oil is the single most important source of revenues, but construction and services have grown in the past few years and currently answer to 20% of the Gross Domestic Product (GDP), according to figures from the World Factbook of the US\u2019 Central Intelligence Agency (CIA). Due to Libya\u2019s climate and soil, agricultural production is restricted and the country imports approximately 75% of its food. The country maintains a large artificial irrigation project which may eventually change that picture around somewhat. <\/p>\n
Brazil is one of the food supplying countries to Libya. Last year, Brazil earned US$ 102 million in revenues from exports to Libya. In the first eight months this year, revenues shot up to US$ 234 million, more than twice the amount in the whole of last year, and the main products shipped were meats, ores, and grain. On the other hand, Brazil has imported oil and derivatives from Libya in the past, but no imports were made this year. <\/p>\n
*Translated by Gabriel Pomerancblum<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"
The country cut its production back to 300,000 barrels per day during last year\u2019s civil conflict, but activity has been resumed, and the target for 2015 is 3 million barrels.<\/p>\n","protected":false},"author":2316,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[91],"tags":[],"class_list":{"0":"post-42700","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-economy"},"wps_subtitle":"The country cut its production back to 300,000 barrels per day during last year\u2019s civil conflict, but activity has been resumed, and the target for 2015 is 3 million barrels.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/42700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=42700"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/42700\/revisions"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=42700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=42700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=42700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}