Wednesday, July 9, 2025
LibyaReview
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion
No Result
View All Result
LibyaReview
No Result
View All Result
Home Economy

Oil Minister: Libya Plans to Increase Exports to 2 Million BPD

January 9, 2023
Share on FacebookShare on Twitter

Libyan Oil Minister, Mohamed Aoun said that Libya plans to increase oil production to 2 million barrels per day, within three years.

In press statements, Aoun expected that oil would gradually rise between 1.3 and 1.5 million barrels per day during 2023. He added that geological studies have proven the existence of large deposits of oil and gas in the Libyan economic waters in the Mediterranean.

The minister expressed his hope to reach “amicable solutions” to the maritime border demarcation crisis with neighbouring countries, especially Egypt.

Last month, Egyptian President Abdel Fattah El-Sisi issued a decree demarcating the country’s western maritime borders with Libya.

The Libyan Parliament and the government have denounced the step.

The Parliament-designated Prime Minister, Fathi Bashagha called on the governments of “neighbouring and friendly” countries of Egypt, Turkey, and Greece not to take any unilateral steps regarding defining and demarcating maritime borders. He stressed that the demarcation of the maritime borders at this time “would increase tensions, and exacerbate the situation in the Mediterranean region.”

The Foreign Ministry of the Tripoli-based Government of National Unity (GNU) also announced its rejection of Egypt’s decision.

It said in a statement that the decision was “unfair, and violates the principles of good faith. The Ministry of Foreign Affairs alerts that this dispute may be referred to peaceful means of settlement under Article 33 of the Charter of the United Nations, including the International Court of Justice.”

The Ministry stressed that any demarcation of the maritime borders between the two countries “must take place through an agreement that guarantees the interests of both parties, and respects the principle of equality.” Additionally, it urged the Egyptian government to consider “launching talks on maritime borders with the GNU.”

On Saturday, Libya’s National Oil Corporation (NOC) announced that crude oil production reached 1.209 million barrels within 24 hours.

Tags: 2 million barrels per daylibyaOil ExportsOil Minister
Next Post

Libya’s National Center for Disease Control Warns of Spread of Glaucoma in South

POPULAR CATEGORIES

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

MUST READ

Libya Faces New Crisis as Rival Forces Mobilize in Tripoli

Libya Declares EU Ministers Unwelcome After Diplomatic Dispute in Benghazi

Italy to Provide Boats to Libyan Coast Guard to Curb Migration

Belgassem Haftar Signs Deal to Renovate Benghazi Medical Campus

Libyan Army Deploys Military Reinforcements to Border with Chad

Libya Plans to Expand Diplomatic Outreach

EDITOR PICKS

Greece Suspends Asylum Process for Migrants from Libya

Libyan Army Deploys Military Reinforcements to Border with Chad

Libya Plans to Expand Diplomatic Outreach

Libya Declares EU Ministers Unwelcome After Diplomatic Dispute in Benghazi

Libya Faces New Crisis as Rival Forces Mobilize in Tripoli

Italy to Provide Boats to Libyan Coast Guard to Curb Migration

  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR

No Result
View All Result
  • Home
  • Libya
  • Economy
  • Sport
  • Politics
  • Entertainment
  • Opinion

© 2024 LR