https://en.sputniknews.africa/20250131/libyas-national-oil-corporation-aims-for-output-boost--transparency-under-new-chief-1070445770.html
Libya's National Oil Corporation Aims for Output Boost & Transparency Under New Chief
Libya's National Oil Corporation Aims for Output Boost & Transparency Under New Chief
Sputnik Africa
Libya has increased its oil production from 800,000 bpd in 2021 to 1.4 million bpd by January 2025, Libyan Prime Minister Abdulhamid Al-Dbeibeh said at the... 31.01.2025, Sputnik Africa
2025-01-31T16:55+0100
2025-01-31T16:55+0100
2025-02-03T09:58+0100
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With Massoud Suleman now leading the National Oil Corporation (NOC), Libya's oil sector is embarking on a new direction. The corporation's new leadership is prioritizing increased production and transparency, aiming to recover from a tumultuous period marked by output declines stemming from post-Gaddafi conflicts over revenue.NOC will continue its plan to reach 2 million bpd (currently 1.4 million), though 1.6 million bpd requires $3-$4 billion, Suleman told Western media. He stressed transparency and potential streamlining to attract investors.Foreign investors are hesitant to invest in Libya due to the country's division between rival factions. Suleman is evaluating subsidiaries and planning cautious branch closures, especially newer ones, to simplify the structure.
https://en.sputniknews.africa/20250119/libya-to-boost-oil-production-to-16-mln-bpd-with-3-4-bln-investment-by-2026-oil-minister-says-1070250608.html
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libya, economy, north africa, oil, gas, energy, production, development
libya, economy, north africa, oil, gas, energy, production, development
Libya's National Oil Corporation Aims for Output Boost & Transparency Under New Chief
16:55 31.01.2025 (Updated: 09:58 03.02.2025) Ekaterina Shilova
Writer / Editor
Libya has increased its oil production from 800,000 bpd in 2021 to 1.4 million bpd by January 2025, Libyan Prime Minister Abdulhamid Al-Dbeibeh said at the opening of the Libyan Energy and Economic Summit held in Tripoli on January 18 and 19.
With Massoud Suleman now leading the National Oil Corporation (NOC),
Libya's oil sector is embarking on a new direction. The corporation's new leadership is prioritizing increased production and transparency, aiming to recover from a tumultuous period marked by output declines stemming from post-Gaddafi conflicts over revenue.
NOC will continue its plan to reach 2 million bpd (currently 1.4 million), though 1.6 million bpd requires $3-$4 billion, Suleman told Western media. He stressed transparency and potential streamlining to
attract investors.
Foreign investors are hesitant to invest in Libya due to the country's division between rival factions. Suleman is evaluating subsidiaries and planning cautious branch closures, especially newer ones, to simplify the structure.
