East Libya oil firm says now pumping oil to Tobruk

Tue Mar 15, 2011 1:14pm GMT
 

By Tom Pfeiffer

TOBRUK, Libya (Reuters) - Agoco, an oil firm based in rebel areas, said on Tuesday it was now only pumping oil to Tobruk in the far east of Libya after Muammar Gaddafi's forces retook Ras Lanuf, where it has facilities.

Arabian Gulf Oil Co (Agoco) management board member Hassan Bulifa also told Reuters that output from the firm's fields was holding steady at one-third of its normal production levels.

Agoco had previously said it was producing about 130,000 barrels per day (bpd), compared to about 400,000 bpd before a rebellion against Gaddafi's rule erupted in mid-February.

"We stopped pumping oil to Ras Lanuf. Production at our fields is still about one-third of normal output but now all the oil is being pumped to Tobruk," he said. "We have a tank farm, a storage facility, there."

Bulifa said it would take about three weeks to fill up the storage available at the current rates of production. On March 10, he had said storage could be filled in two or three weeks.

Agoco, owned by the state's National Oil Corp (NOC), is based in Benghazi where rebels have set up a National Libyan Council that is working to oust Gaddafi.

NO DAMAGE

"So far the fighting has had no effect really. Agoco has seen no damage to any of its oil facilities," Bulifa said.   Continued...

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