Libya's Waha Oil Co: Restarted Oil Production

LONDON (Dow Jones Newswires), Nov. 28, 2011

Libya's giant Waha Oil Co., the last oil producer yet to resume operations after the war, has restarted production, an official at the company said Monday.

Waha Oil Co. is the largest oil producer in Libya with foreign partners, which are ConocoPhillips, Hess and Marathon Oil.

Waha Oil Co. is now producing 16,000 barrels a day, according to Waha construction supervisor Khaled Othman.

The resumption comes after staff ended a strike that called for the demotion of top managers. The government has agreed to dismiss the managers.

Copyright (c) 2011 Dow Jones & Company, Inc.


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Nick | Dec. 7, 2011
Oil industry is very sensitive to any unrest or violence, In Libya the situation is upside down. The armed young people are everywhere. Unfortunately, most of the new oil industry managers were not more qualified than the previous ones. It is true that few of the previous managers were corrupted, but some of the newly selected managers were based on a wrong way. Hopefully, the future is more promising and everybody says enough is enough!!! Nick

Grate | Nov. 29, 2011
Libya has lots of motivated, qualified and experienced manpower, the problem was that under the old regime these were generally not the people that got to the top. The people at the top were generally there for political, nepotistic or other reasons. Lets hope that the recent changes ensure that competent people, motivated by a commitment to helping the company and the country manage the oil companies. They in turn will then employ and develop the best available people and hopefully not the people with the best connections.

Aymen | Nov. 29, 2011
I can't believe it! In the new Libya you can kick off the corrupt CEOs which were imposed by the Revolutionary Committees on oil companies. Wow!

Anthony A. Mifsud | Nov. 29, 2011
This good news, as once the Pipe line get started to flow the better for all the oil Companys


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