Libya will participate in the meetings of the Committee OPEC+ in Oman

© RIA Novosti / Maxim to Bogodeeva in fotosannette conventional pumping unit. Archival photoLibya will participate in the meetings of the Committee OPEC+ in Oman© RIA Novosti / Maxim to Bogodeeva the image Bank

Libya will participate in the meeting of the Ministerial Committee for monitoring the implementation of the agreement on the reduction of oil production of OPEC countries, which will be held in Oman on January 21 and 22, said Sunday the Director of marketing, Ministry of oil and gas of Oman, Ali bin Abdullah al-Rai.

«The Libyan national oil company was invited to participate in the meeting. They have confirmed their participation,» said al-Rai, whose words are in the Twitter of the Ministry of oil and gas of Oman.

Libya and Nigeria previously did not carry commitments to reduce oil production under OPEC agreement+ because the oil industry of these countries suffered from the actions of armed groups. However, after the meeting all 24 of the participating countries of the Vienna Convention, held in late November of last year, it was decided that Libya and Nigeria in 2018 will limit the production level in 2017 is approximately 1 million bpd for Libya, and about 1.8 million barrels per day for Nigeria.

At the same time in mid-December, there is information that Libya is negotiating with OPEC about the possibility to increase the quota of the country’s oil production to 1.5-1.6 million barrels per day. While currently, Libya is already producing 1.1 million barrels per day.OPEC and several non-organisation countries (OPEC+) agreed in late 2016 in Vienna on the reduction of its oil production to total 1.8 million barrels per day from the level of October 2016, of which 300 thousand are in Russia. In November 2017, the parties extended it until 2018. The next OPEC summit will be held on 22 June 2018 in Vienna.

To monitor compliance with the agreement and develop recommendations for adjustments in the terms and conditions was created the Ministerial monitoring Committee, which meets once in two months. It includes the representatives of Saudi Arabia, Venezuela, Kuwait, Algeria, Oman and Russia. The implementation of the agreement following a technical Committee consisting of experts from the Ministerial Committee. He’s going each month.Libya will participate in the meetings of the Committee OPEC+ in Oman© RIA Novosti, Informaticompletion: from exploration to the consumer

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