April 7, 2016 / 9:57 AM / in 2 years

Wintershall says no forecast for Libya oil production possible

KASSEL, Germany, April 7 (Reuters) - BASF unit Wintershall cannot forecast oil production in troubled Libya this year after producing only on 125 days in 2015, its finance chief told a press conference on Thursday.

Libya only yielded 35,000 barrels per day (bpd) for Wintershall, which has been active there fore more than 60 years and in peaceful times produced up to 100,000 bpd, said finance chief Ties Tiessen.

“We hope the political unification process can lead to stability,” Tiessen said.

Chief Executive Mario Mehren said the company’s profile would remain pipeline gas-oriented. This was in response to a question about the global gas market change towards more liquefied natural gas (LNG).

“LNG is not low in cost and you need special infrastructure. It is a playground for big oil majors,” he said. (Reporting by Vera Eckert; Editing by Christoph Steitz)

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