FRANKFURT, July 26 Chemicals maker BASF
has managed to ramp up oil production in Libya to
levels close to those before the armed conflict in the North
"Production has gone up a little bit. We are almost at where
we were before the Libyan crisis started in 2011. The bottleneck
actually is the export infrastructure dependent on publicly
available infrastructure," Chief Executive Kurt Bock told
Reuters Insider TV.
He also said BASF was under no time pressure to pursue
larger takeovers, even though two years have passed since its
latest major deal, the purchase of household product additives
"We are not in a hurry at all. We are looking at what's
going on around the world. We have ample liquidity and cash
reserves available," CEO Bock said.
He would like to buy Asian companies but various factors
made it very difficult to strike a deal there, the CEO added.
Earlier on Thursday, BASF , the world's largest chemicals
maker by sales, stuck to its outlook of higher operating
earnings this year, shored up by its oil and gas division, which
would more than offset a decline at its core chemicals
(Reporting by Axel Threlfall, Writing by Ludwig Burger)