Free Headline Alerts     
Worldwide Web


Wednesday, June 29, 2011     GET REAL

Report: Libyan rebels capable of huge increase
in oil output

LONDON — The crude oil production by Libyan rebels could rise sharply.


A report by the Goldman Sachs Group asserted that rebel oil exports could increase to as much as 355,000 barrels per day, Middle East Newsline reported. Goldman said rebel-held areas, despite shelling by forces loyal to Col. Moammar Gadhafi, contain sufficient infrastructure for a sharp rise in exports.

"The opposition forces could resume about 200,000 barrels per day of crude exports as some fields and their related export terminals are largely intact," the report said. "A further 155,000 barrels per day could potentially be exported at a later stage from a second loading port under their control."

Also In This Edition

The report said Libyan oil exports could further increase to 585,000 barrels per day should the Gadhafi regime collapse and production resume from western oil fields. Libya was producing 1.6 million barrels per day before the revolution began in early 2011.

About Us     l    Privacy     l     l
Copyright © 2011    East West Services, Inc.    All rights reserved.