Libya aims to raise oil production to 1.2 million bpd

 

Libya’s crude production has resumed at several oil fields, after lifting force majeure on oil exports last week.

Libya's PM Dbeibah appointed a new state oil company chief, said to be an ally of Haftar, leading to a swift end of the blockade. (Reuters)

Libya's National Oil Corporation (NOC) aims to bring back production to 1.2 million barrels per day (bpd) in two weeks, NOC said in a statement.

"NOC is striving to increase production and bring it back to its normal rates of 1.2 million barrels per day in two weeks," according to the statement.

Current oil production is at 860,000 bpd, compared with 560,000 bpd before resuming production, NOC added on Saturday.

Libya's crude production has resumed at several oil fields, after lifting force majeure on oil exports last week.

A blockade of oil output by groups aligned with warlord Khalifa Haftar had cut off funding to the Tripoli-based Government of National Unity (GNU) led by Prime Minister Abdulhamid al Dbeibah.

But last week Dbeibah appointed a new state oil company chief, said to be an ally of Haftar, leading to a swift end of the blockade.

The Libyan Oil Ministry had said earlier that production is at more than 800,000 (bpd) and will reach 1.2 million bpd by next month.

The country's oil exports at times last year reached 1.2 million bpd. 

 

Source: Reuters 

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