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Shell contracts valid, Libya says

Jan. 5, 2012 at 10:07 AM

TRIPOLI, Libya, Jan. 5 (UPI) — The post-war government in Libya told the Dutch ambassador existing contracts with Royal Dutch Shell were still valid, the country’s oil minister said.

As of November, the International Energy Agency said Libyan oil production was around 500,000 barrels per day, up from the 75,000 recorded in September. Before the war began in March, Libya was producing around 1.6 million bpd.

Production in the country is returning faster than most analysts expected when NATO forces established a no-fly zone over the country last year. read more

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