The Es Sider terminal and nearby Ras Lanuf stopped working three weeks ago when fighting broke out between rebel groups and government forces.
Supply from OPEC averaged 29.98 million bpd in December, down from a revised 30.25 million bpd in November, according to a survey.
The fuel retailer has slashed the price of diesel by an additional 20 fils to Dhs3.10 per litre as of December 30.
The start-up phase will involve testing equipment at the plant, which has annual production capacity of 4,000 tonnes, a statement said.
Libya is surviving on a mere 128,000 barrels per day from fields connected to the eastern port of Hariga, an oil official said.
The facility is located in Saudi Arabia’s Jubail Industrial City.
Output from Libya remains at a fraction of the 1.6 million barrels a day it produced prior to the 2011 ouster of leader Muammar Gaddafi.
Iraq’s oil minister Adel Abdul Mahdi did not specify the form of intervention that OPEC should adopt.
The delegates said they may not see – and some may not even welcome now – a return to $100 per barrel any time soon, a price that was previously considered ideal.
Naimi also said the Saudis might boost output instead to grow their market share and that oil “may not” trade at $100 again.
OPEC met on November 27 and declined to cut production despite a slide in prices, marking a shift in strategy towards defending market share rather than supporting prices.
Brent crude is down 46 per cent from the year’s peak in June above $115 per barrel.
The remark was one of the strongest signals yet that the world’s top oil exporter has no intention of cutting output in the face of sliding oil prices.
Badri said that it is hard to tell the impact of low oil prices on the market yet.
The official also ruled out a possibility of an emergency meeting in June.
Saudi Oil Minister Ali al-Naimi insisted that oil prices would improve, although it was unclear when.
Fitch Ratings downgraded Bahrain’s credit outlook last week to negative, saying the fall in oil exacerbated an already challenging fiscal situation.
OPEC’s decision last month to leave its output ceiling unchanged, was followed by a fresh plunge of oil prices.
Qatar’s oil minister said that the main reason for oil’s plunge in recent months was slow growth of the global economy and an increase in sources of supply.
OPEC producers sought to bring balance to the market but a lack of cooperation from other producers led to a continued fall in prices, Naimi said.
Mazroui said the recent decision of OPEC to retain its production was correct, citing irresponsible supply from other producers for the recent fall in oil prices.
UAE Oil Minister Suhail Bin Mohammed al-Mazroui said that all players must shoulder their responsibilities to reach market balance.
Saudi Arabia, the largest producer in OPEC, will stick to its policy to maintain output, Naimi said, according to state news agency SPA.
A senior official said that gas will be transported by sea from Russia to Bahrain but did not specify the amount of gas that will be imported.
The OPEC member exported 6.897 million barrels per day of crude in October, up from 6.722 million in September.
The fuel retailer said that the price reduction is in line with the international crude oil price trends.
The Kingdom will continue spending on development projects and social benefits in 2015, its finance minister said.
Oil has lost almost half its value since this year’s peak of $115 per barrel in June on slower global demand and the U.S. shale oil boom.
Oil fell to close to $59 a barrel for the first time since May 2009 on Tuesday.
The development of oil prices is being studied by individual countries, the official said.