Libya’s Speaker of the House of Representatives, Ageela Saleh, met with the Acting Chairman of the National Oil Corporation (NOC), Masoud Suleiman, to discuss the current state of the country’s oil sector and the main challenges facing its continued growth.
During the talks, Saleh praised the performance of the NOC despite difficult conditions, stressing the importance of offering stronger institutional and financial support to enable the corporation to meet its production goals.
He reviewed key issues related to the corporation’s internal operations, development projects, and infrastructure limitations, and emphasized the need to overcome obstacles that continue to slow the pace of investment and implementation.
The meeting reflects the Libyan parliament’s awareness of the oil sector’s pivotal role in the country’s economy, particularly amid ongoing efforts to stabilize state institutions and resume full-scale development projects.
Libya holds the largest proven oil reserves in Africa, but its production capacity has been severely impacted by over a decade of political division, armed conflict, and deteriorating infrastructure.
While the country currently produces around 1.2 to 1.3 million barrels of oil per day, it has ambitions to increase this figure to 2 million barrels, a target repeatedly emphasized by the National Oil Corporation.
Yet, reaching that goal depends heavily on political stability, security, and long-term investment in Libya’s oil infrastructure.
The NOC has faced repeated shutdowns, funding shortfalls, and disputes over control of revenues, all of which have hindered efforts to expand exploration and development.
