Austria’s OMV has said its output in Libya has returned to
normal after unrest in the country saw production shut in for seventeen
days.
The Vienna-based integrated energy player said that
production had resumed as of last Friday and “is now stabilised at normal
levels”.
The explorer said it had been forced to shut in “most of” its output of around 30,000 barrels of oil equivalent per day on 25 June “due to the current political situation in Libya”, without specifying further details.
The company struggled to revive its output after the end of Libya’s conflict last year, seeing an initial return to production in April 2012 but with output lagging below pre-crisis levels until November.
OMV announced late last year that because of the instability in north Africa and the Middle East, it planned to refocus away from the region in the coming years, albeit while maintaining existing assets.
The explorer said it had been forced to shut in “most of” its output of around 30,000 barrels of oil equivalent per day on 25 June “due to the current political situation in Libya”, without specifying further details.
The company struggled to revive its output after the end of Libya’s conflict last year, seeing an initial return to production in April 2012 but with output lagging below pre-crisis levels until November.
OMV announced late last year that because of the instability in north Africa and the Middle East, it planned to refocus away from the region in the coming years, albeit while maintaining existing assets.
upstreamonline.com
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