Libyan oil production making slow rebound

Following eight months of international military engagement, Libya is producing around 530,000 barrels of oil per day, the national oil company said. The International Energy Agency states that oil made up nearly all of Libya's export earnings in 2010. Oil production since the war began in March, however, was down to around 350,000 barrels per day, far shy of its estimated pre-war output of 1.3 million bpd. The Libyan National Oil Co. said the country was now producing around 530,000 bpd, Algerian news agency Ennahar reports. An official with the company said the country was limited by disruptions to the Sharara oil pipeline, which rebel fighters blocked to prevent operations at some of the country's oil fields. The Libyan oil company said there were lingering problems with the country's oil sector because of war damage to the energy infrastructure. The interim National Transitional Council was recognized as the sole governmental authority in the country after rebel forces seized Tripoli in August. As a result, international energy companies like ENI have slowly restarted oil production in one of Africa's key energy states. Moammar Gadhafi, who was Libya's leader for more than 40 years, was killed in late October in his hometown of Sirte.