Libyan Oil Minister Starts 8-day Visit to US

Libyan Oil Minister Mohamed Aoun
Libyan Oil Minister Mohamed Aoun

The Libyan Ministry of Oil and Gas announced that Minister, Mohamed Aoun is visiting the United States today.

In his 8-day visit, Aoun will meet a number of US energy officials and businessmen.

During his visit, the minister is scheduled to discuss opportunities for cooperation and partnership in projects, and steps to develop the oil and gas sector.

Notably, Aoun announced that Libya has joined the International Energy Forum (IEF), as of December 2022.

Libya will be the 72nd member, after the approval of the Executive Council of the IEF. The Forum includes more than 90% of the countries and organizations that work in the production, consumption, and marketing of oil and gas in the world.

The IEF is an inter-governmental, non-profit international organization that aims to foster greater mutual understanding and awareness of common energy interests among members. Members are signatories to the IEF Charter, which outlines the framework of the global energy dialogue, through this inter-governmental arrangement.

The IEF not only includes IEA and OPEC countries, but also key international actors such as Brazil, China, India, Mexico, Russia, and South Africa.

Last week, Libya’s National Oil Corporation (NOC) announced that crude oil production reached 1.230 million barrels per day.

In a statement, the NOC added that condensate production amounted to 57,000 barrels. It noted that the total domestic consumption of natural gas amounted to 1.7 billion cubic feet per day.

In November, Minister Aoun expressed his hopes that “oil production will return to 2010 levels.”

In press statements on the sidelines of the OPEC meeting in Kuwait, Aoun noted that Libya produces about 1.2 million barrels of oil per day.

He expressed his hope to raise production levels, and to return production to 2010 levels when Libya was producing 1.6 million barrels per day, “within two or three years.”

Aoun explained that he hopes that “Libya’s decision to lift the state of force majeure in the oil and gas exploration sector will encourage the return of foreign oil companies to the country.”