Libya's NOC chief to attend Opec, non-Opec meeting

Business Tuesday 18/July/2017 15:40 PM
By: Times News Service
Libya's NOC chief to attend Opec, non-Opec meeting

Tunis: The head of Libya's National Oil Corporation (NOC) said on Tuesday he would lead a Libyan delegation to a meeting of Opec and non-Opec oil producers in St Petersburg, Russia on July 22 to share his country's production plans.
NOC Chairman Mustafa Sanalla will share with a technical committee "the factors enabling and constraining Libya's production recovery", he said in a statement.
"I will consult with significant Libyan decision-makers before I leave and hope to present a unified Libyan position in St Petersburg that will show we can act together in the national interest," Sanalla said.
The technical committee involving six Organisation of Petroleum Exporting Countries (Opec) and non-Opec members is due to convene before ministers from the countries hold talks in the Russian city on July 24.
Opec members Libya and Nigeria have boosted production since they were exempted from an Opec-led deal to cut output, weighing on global prices.
That prompted talk among producers about including them in the pact, though Kuwait's Opec governor Haitham Al-Ghais said on Friday it would be premature to cap Libyan and Nigerian production.
Sanalla has said Libya's political, humanitarian and economic problems must be considered in any discussion about limiting the country's output.
Libya's oil production is fluctuating at just over 1 million barrels per day, still well under the 1.6 million bpd the North African country was producing before its 2011 uprising.