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Reuters reported that oil production in Libya is on a path of continuing recovery with output now close to the level it had been before the uprising that toppled Muammar Gaddafi.
Austrian energy group OMV’s total production rose to 305,000 barrels of oil equivalent per day from 299,000 in the previous quarter with help from Libya’s output as well as higher production in New Zealand. Libya had provided a tenth of OMV's global output in 2010 before a civil war halted production last year.
OMV said that this increase was, however, partly offset by lower production in Romania and Austria.
The company's refining margin leapt to USD 4.15 per barrel from USD 1.85 in the Q1 thanks to decreasing crude oil prices and strengthened gasoline spreads. Refining sales edged up to 4.61 million tonnes
Source: Reuters
Austrian energy group OMV’s total production rose to 305,000 barrels of oil equivalent per day from 299,000 in the previous quarter with help from Libya’s output as well as higher production in New Zealand. Libya had provided a tenth of OMV's global output in 2010 before a civil war halted production last year.
OMV said that this increase was, however, partly offset by lower production in Romania and Austria.
The company's refining margin leapt to USD 4.15 per barrel from USD 1.85 in the Q1 thanks to decreasing crude oil prices and strengthened gasoline spreads. Refining sales edged up to 4.61 million tonnes
Source: Reuters
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