Posted by: Bloomberg
Libya’s oil production climbed to the highest since 2013 and can go even higher if security at the nation’s energy facilities can be improved, according to the chairman of the state-run National Oil Corp.
Output was recently 1.278 million barrels a day and can be increased by “hundreds of thousands” of barrels a day with improved security, Mustafa Sanalla said in response to questions. Still, continued instability in the country with Africa’s largest oil reserves means the NOC may have to revise its 2022 production target of more than 2 million barrels a day, he said.
“Threats to NOC are numerous,” Sanalla said. “If the security situation improves, our production outlook is very good.”