Libya’s daily production of crude oil and condensates has increased, reaching 1,368,028 barrels, according to a press release from the National Oil Corporation (NOC).
The statement also indicated that daily gas production stands at 200,690 barrels of oil equivalent, bringing the total daily output of oil and gas to 1,568,718 barrels.
According to the statement, this increase is part of the NOC’s strategic plan to boost production. Libyan crews across oil fields have been working intensively to meet daily production goals for crude and condensates.
The corporation reported an additional output of 22,332 barrels compared to previous records, marking a significant step toward NOC’s production targets.
The NOC reaffirmed its commitment to advancing Libya’s oil sector, with efforts focusing on achieving sustainable growth and supporting the national economy.
Libya has been in chaos since a NATO-backed uprising toppled longtime leader Muammar Gaddafi in 2011. The county has for years been split between rival administrations.
Libya’s economy, heavily reliant on oil, has suffered due to the ongoing conflict. The instability has led to fluctuations in oil production and prices, impacting the global oil market and Libya’s economy.
The conflict has led to a significant humanitarian crisis in Libya, with thousands of people killed, and many more displaced. Migrants and refugees using Libya as a transit point to Europe have also faced dire conditions.
The planned elections for December 2021 were delayed due to disagreements over election laws and the eligibility of certain candidates. This delay has raised concerns about the feasibility of a peaceful political transition.
Despite the ceasefire, security remains a significant concern with sporadic fighting and the presence of mercenaries and foreign fighters. The unification of the military and the removal of foreign forces are crucial challenges.
