Thursday, February 24, 2011

Repsol halved its production in Libya protests

The president of Repsol, Antonio Brufau, stated that Libya will draw all personnel remaining in the country, where production has halved. "This is not over," he said in reference to the Libyan crisis. "We still have people there. But we say to the families that will bring them all, even on bicycles." In a very cautious, not wanting to give details like the number of employees who remain in Libya or evacuation plans, Brufau explained that, for now, there has been vandalism at the facility.

"The situation, without being good, is not disastrous," he said. The president of the oil was speaking to reporters during the presentation of results of the company, whose investment in the African country stood at 650 million dollars. The annual oil production in Libya is 14 million barrels a year.

The management of the Repsol pits corresponds to a joint venture between the Algerian state has 51%. Brufau explained that the daily production of the projects in which Repsol participates in the African country is 360,000 barrels, of which 30,000 belong to the Spanish oil company, has fallen to 160,000 barrels due to the crisis.

Instability in Libya, more relevant to Tunisia and Egypt in the extraction of oil, has caused an escalation in the price of crude oil and gasoline. "There will be an evident impact on the income statement, but now is not relevant," he said, since what matters is the situation of the citizens of Libya and the safety of their workers.

"We now think in terms of social and socio-political, not economic. I think will play in economic terms." In the afternoon yesterday, Brufau received in the Madrid airport to the 131 passengers on the flight chartered by the company to evacuate the staff of the oil in Libya. Among visitors, there were 54 workers and 34 relatives of Repsol.

Brufau has outlined today on board the aircraft, the first so far sent to evacuate Spanish, waiting for takeoff military aircraft of the Government, people of 22 nationalities, and had brought many people as possible. Part of the remaining employees in Libya are to be grouped together because some wells abandoned for fear of being targeted, as explained elsewhere.

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