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Analyst sees Libya’s oil, gas production rising

12/08/2008
Libya will supply 17.37% of Africa’s regional oil supply by 2012, while accounting for about 7.45% of African oil demand, according to a recent BMI analyst report.BMI said African regional oil production, which reached 7.84 million b/d in 2001 and averaged 10.13 million b/d in 2007, is set to rise to 12.66 million b/d by 2012.It said regional oil use, which stood at 2.98 million b/d in 2001 and rose to 3.58 million b/d in 2007, should average 3.66 million b/d in 2008 before increasing to around 4.05 million b/d by 2012.In terms of natural gas, the region in 2007 consumed 100 billion cu m (bcm), with demand of 171 bcm targeted for 2012, representing growth of 71.1%.“Production ...
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