Ghanem Delays Output Capacity Targets

Libya has delayed its oil production capacity target of 3mn barrels per day (b/d) from 2012 to 2015/2016, according to Shokri Ghanem, CEO of state-owned National Oil Corporation (NOC). Speaking to Reuters at the sidelines of a conference in Cairo on December 5, Ghanem said that the delay was due to 'changes in the market and budget constraints'.

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