Posted by: ABC NEWS
Libya’s national oil company says oil production in the violence-plagued country has exceeded 800,000 barrels a day for the first time since 2014.
NOC said on Wednesday that production could also reach 1,000,000 barrels per day, if contractual issues are resolved.
Libya descended into chaos with its 2011 civil war, which ended with the killing of longtime dictator Moammar Gadhafi. The country has been split into two competing parliaments and governments in the east and west, each backed by a set of militias, tribes and political factions.
Oil is Libya’s only real source of revenue, and it has been trying to restore production to its 1.6-billion-barrel-a-day level of 2011. Facilities have changed hands several times over the past years but revenues continue to flow into the Tripoli-based central bank.