Libya oil reaches 1.36M bpd, a decade-long peak
Libya’s oil production has surged to its highest level in 10 years, Prime Minister Abdul Hamid Dabaiba said on Thursday.
Output reached 1.363 million barrels per day (bpd), a milestone not seen since 2013, Dabaiba said. The increase is part of a government initiative to boost production to 2 million bpd by the end of 2025.
“This important figure is part of our plan to develop the oil sector,” Dabaiba said in a statement, adding that the move would strengthen the Libyan dinar, improve living standards and stabilise the economy.
The National Oil Corporation (NOC) confirmed the production increase, reporting daily output of 1,336,185 barrels of crude and condensate. The NOC said it plans to restart production at four fields soon – Al-Dhahra, Al-Bahi, Al-Mabrouk and Al-Tahara – which would add more than 40,000 bpd to production capacity.
The NOC is targeting production of 1.4 million bpd by the end of the year.
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