Libya records highest oil production in over 10 years

Libya’s National Oil Corporation (NOC) has announced that oil sales revenues for February exceeded $2 billion, confirming that the full amount was transferred to the state treasury without any deductions for the first time in several years.

The disclosure was made during a meeting between NOC Chairman Masoud Suleman and Prime Minister Abdul Hamid Dbeibah, according to an official statement.

Mr Suleman said the transfer of revenues in full marks a significant step towards greater financial transparency in Libya’s oil sector, which remains the primary source of national income.

He also confirmed that oil production in February reached approximately 1.43 million barrels per day — the highest level recorded in more than a decade.

The increase in output reflects improved operational stability across key oil fields and export terminals, following periods of disruption in recent years.

Libya’s hydrocarbon sector continues to underpin the national economy, with oil revenues accounting for the vast majority of public income. Analysts say sustained production at current levels, combined with transparent revenue management, could help ease fiscal pressures and support broader economic recovery.

The latest figures are likely to be welcomed by policymakers and international observers alike, particularly amid ongoing calls for stronger governance and accountability in the management of Libya’s natural resources.