Libya to Pump Extra 300,000 B/D from Late 2005

Libya’s Oil Minister Fathi bin Shatwan said Monday that he expects the country to hike its crude capacity some 18% before the year is out, but is currently pumping at maximum.

Speaking to Dow Jones Newswires as he departed Tripoli for an Organization of Petroleum Exporting Countries meeting here, Shatwan said: “At the moment, we’re doing 1.7 million barrels a day and I’m hoping we’ll be able to do probably 300,000 barrels a day more late this year.”

OPEC meets Wednesday and is expected to sanction a 500,000 barrels-a-day increase in its production ceiling.
Rigzone