Libya has lost US$ 7.5 billion in 2013 due to oil stoppages– NOC chairman Berruien

By Sami Zaptia.

Tripoli, 17 September 2013:

NOC chairman Nurri Berruien revealed that on average, over 280,000 barrels per day have been lost by Libya in oil production since the beginning of the year as a result of all the various hydrocarbon stoppages.

This he estimated has led to a loss of about US$ 7.5 billion for Libya since the beginning of 2013.

Speaking today at the official opening of the second CWC Libya Forum, the NOC chairman welcomed the nearly 200 participants to the event, saying that it was being held at ‘’this critical time for Libya’s oil sector’’.

He admitted that the production rate of oil was currently at ‘’a very low’’ level partially due to Libya being in a ‘’transition stage’’, he explained.

Berruien said that Libya was trying to move from the ‘’stage of revolution to the state’’ during which much debate, argument and disagreement is happening.

Nevertheless, the NOC chairman felt that the CWC Libya Forum, which his organisation was sponsoring, was still ‘’one of the most important’’ oil and gas events held locally.

He said that 2013 has been a very busy year for the NOC despite the oil strikes that have hit oil production. [/restrict]