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Libya rebels to produce 100,000 barrels per day 'soon'

09 june 2011, 19:07
0
A Libyan soldier stand on top of a destroyed building in Tripoli. ©AFP
A Libyan soldier stand on top of a destroyed building in Tripoli. ©AFP
The minister of oil and finance in the Libyan rebel council, Ali Tarhoni, said in Abu Dhabi Thursday that the rebels will start producing 100,000 barrels of oil per day "soon", AFP reports.

"We are hoping soon" he said, when asked when the rebels would start producing oil from the eastern fields under their control.

"100,000 barrels per day (bpd), or so," he added.

He said he hoped the third meeting of the International Contact Group, which was to open in the United Arab Emirates capital later on Thursday, "will establish a financial mechanism" to help the rebels' National Transitional Council.

"Otherwise, this meeting will be a total failure," he said.

Two dozen countries, including key NATO allies Britain, France and Italy, as well as delegates from the United Nations, the Arab League, and the Organisation of Islamic Conference are attending the talks.

Libya, a key crude-exporting nation that was producing some 1.7 million bpd before the rebellion broke out in mid-February, has seen its output slashed since the revolt began.

According to the International Energy Agency, Libya's exports averaged 1.49 million bpd before the uprising, with 85 percent of that going to Europe.

A small number of export shipments have been made from rebel-held territory, delivered to market through Qatar Petroleum in an exemption to the sanctions.

But rebels said last month they had no plans to resume significant oil exports as their current priority was to ensure oil installations were made secure.

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