Global Arab Network | Libya plans to ship crude from Tobruk by end of September

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Libya plans to ship crude from Tobruk by end of September

Global Arab Network - - Amina Murtada

Monday, 29 August 2011 23:50

Global Arab Network - Libya plans to restart production at two eastern oil fields in mid-September and resume shipping oil from Tobruk by the end of the same month, offering relief to European countries reliant on its imports.

Oil production in the OPEC country has been at a virtual stand-still for months as clashes between rebels and troops loyal to Muammar Gaddafi have damaged infrastructure and caused foreign workers to flee.

This has forced global economies to pay more than $100 a barrel for Brent crude since the civil war began in February and driven up import costs for major buyers like Italy, Germany and France.

"Operations will start on September 15 and by the end of the month we will have the capability to export from Tobruk," Abdeljalil Mayuf, spokesman for Arabian Gulf Oil Company (AGOCO) told Reuters, referring to the Sarir and Mesla fields deep in the Libyan desert.

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