Libya eyes 62% oil output rise to 2m barrels per day

The Libyan National Oil Corporation (NOC) plans to raise oil production capacity to 2.1 million barrels per day (bpd) over the next few years from the current capacity of over 1.3 million bpd, Mustafa Sanalla, the head of NOC, said yesterday at the Libya Investment Forum, Anadolu Agency reports. During the forum, Sanalla explained Libya's aim to revive its oil and gas sector that had faced many setbacks in the last few years due to armed conflicts and disorder, and which led to the closure of many oil and gas fields and export terminals. "Our crude oil production went down repeatedly to as low as 100,000 bpd, or 7 per cent of our regular production capacity," he said. Despite the […]

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