Wednesday, June 4, 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 Libya

Libya’s Oil Corporation Targets Zero Gas Flares by 2030

December 5, 2023
Share on FacebookShare on Twitter

Libya’s National Oil Corporation (NOC) is expected to achieve close to zero gas flaring by 2030, according to Chairman, Farhat Bengdara

In a press conference at the COP28 summit on Tuesday, Bengdara added that the NOC is aiming for an 83% reduction in gas flaring by 2030.

He told Reuters that the company is moving towards increasing production capacity to two million barrels per day, within three to five years.
The company hopes to increase oil production by 100,000 barrels per day by the end of 2024.

Last month, Bengdara affirmed the neutrality of the corporation and its neutrality from political entanglements.

During a meeting with key figures from the Libyan Economic Salon, Bengdara underscored the vital role of civil society institutions in raising awareness, and contributing to the development of national institutions for the benefit of the economy.

The discussions centered on critical issues within the oil sector, prominently featuring the NOC’s strategy for development, production rate enhancement, and securing financing beyond budgetary constraints.

Fuel supply dynamics and fortifying transparency principles in the oil sector took center stage during the meeting. As well as emphasizing the need to shield the industry from political entanglements, and other divisive issues.

Notably, the NOC announced the launch of its Investor Registration Portal, in a drive to boost transparency and leverage untapped oil reserves.

The NOC said in a statement that the step coincides with a significant increase in Libyan oil production, as the NOC works toward its strategic production goals. The NOC invited both local and international investors to explore opportunities in Libya’s energy sector.

By registering at the NOC Investor Registration Portal, investors can become part of Libya’s oil future. Investors can register at www.nocinvestment.ly.

The statement noted that the NOC aims to enhance oil infrastructure and unlock the potential of undeveloped oil fields.

Tags: Farhat BengdaralibyanocOil Corporation
Next Post

Libya-Egypt Sign MoU to Enhance Healthcare System

POPULAR CATEGORIES

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

MUST READ

Greece Eyes Libya Cooperation to Block Boats from Eastern Coast

Saddam Haftar Attends French-Led Mediterranean Military Summit

Libyan Parliament Approves Budget for Reconstruction Fund

Tripoli Government Assigns “Ali Al-Abed” as Acting Oil Minister

Dbaiba Unveils 3-Track Initiative to Resolve Libya’s Political Stalemate

Haftar: Libyan National Army Ready to Facilitate Elections

EDITOR PICKS

Over 3,000 Migrants Deported from Libya in May

GCC Ministers Reaffirm Support for Political Dialogue & Sovereignty in Libya

Libya & China Resume Talks on Misrata Cement Plant

Haftar: Libyan National Army Ready to Facilitate Elections

Saddam Haftar Attends French-Led Mediterranean Military Summit

Dbaiba Unveils 3-Track Initiative to Resolve Libya’s Political Stalemate

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

© 2024 LR

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

© 2024 LR