Rebel administered eastern Libya is planning to restart oil exports after resuming production at sites controlled by them.
According to reports, oil fields in rebel-held territory in Libya are producing between 100,000 and 130,000 barrels a day, and the opposition plans to begin exporting oil in less than a week.
We are producing about 100,000 to 130,000 barrels a day, we can easily up that to about 300,000 a day," said Ali Tarhoni, the rebel representative responsible for economy, finance and oil, at a news conference.
He said the rebel government had agreed an oil contract with Qatar, which would market the crude, and that he expected exports to begin in "less than a week".
Tarhoni said he had signed the contract with Qatar recently and that the deal would help ensure "access to liquidity in terms of foreign denominated currency".
Tarhoni said the main obstacle to exporting oil would be finding shipping companies, and other representatives from the Provisional Transitional National Council opposition body have said they are having difficulty finding companies to insure oil tankers taking exports from rebel-held territory.
Rebels on Monday advanced towards Gadhafi's home town of Sirte, which was pounded overnight by coalition jets after NATO took command of military operations in Libya.
The rebels promised the uprising would not further hamper oil production in areas under their control, and the opposition plans to begin exporting oil "in less than a week," a rebel representative said.
The rebels, on the verge of losing their Benghazi stronghold before the air strikes began on March 19, seized back Ajdabiya and Brega, 160 and 240 kilometres to the west.
Foreign ministers from more than 35 countries have so far confirmed they will attend a London conference on
Oil eased in Asian trade on Monday but political instability in Libya and the Middle East are keeping upward pressure on prices.
New York's main contract, light sweet crude for delivery in May, dipped 38 cents to $105.02 per barrel while Brent North Sea crude for May lost 14 cents to $115.45, with both contracts giving up gains in the morning.
