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Wednesday, March 16, 2011

Libya's Petrol Exports Stall Point

Wednesday, March 16, 2011
Paris-based agency's latest oil market report, Libya is the point of stopping oil exports, said the former level may take many months to come.

Libya has Africa's largest proven reserves, approximately 1.6 million barrels of oil a day produced before the confusion. Exports to Europe were held the majority.

Libya's oil production is disrupted after breakdown Organization of Petroleum Exporting Countries (OPEC), many members, particularly Saudi Arabia increased oil production.

The report of unrest in North Africa, kidnapped foreign workers and international companies to stop operations in the region due to decreased production rather were expressed.

On the other hand, Libya, Tobruk, except that the control of the oil export terminals in the management of Libyan leader Muammar Gaddafi said.

President Mohammad Abu Sitteh Libyan Oil Workers Union, said "All the oil export terminals under control, except for Tobruk," he said.

According to witnesses, an oil terminal in clashes between rebels and forces the pro-Brega'da Gaddafi still in progress.

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