OPEC+ compliance with oil production cuts rose to about 122% in December, two sources from the producer group told Reuters, indicating that some members continue to struggle to raise their output.
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Oil slipped on Thursday as investors took profits following a month-long rally in prices, but strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014, Reuters reported.
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Libya plans to keep oil output at 1.2 million barrels per day (bpd) in 2022, Mustafa Sanalla, the chairman of the state-owned National Oil Corporation (NOC) told a news conference on Wednesday in Tripoli.
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Libyan Wings Airlines, a private airline company owned by Islamist Abdel Hakim Belhaj, has denied report of its bankruptcy, according to Libyan newspaper El-Enwan.
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The Social Security Fund has criticized an amended law issued by the House of Representatives, which it says “threatens the fate of the Fund and will drag it into bankruptcy.”
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Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, directed a letter to the Acting Head of the Audit Bureau, asking him to immediately stop addressing oil companies regarding the issue of prior control over their contracts.
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The President of the Presidential Council (PC), Mohammed al-Menfi, discussed Sunday with the Governor of the Central Bank of Libya (CBL), al-Siddiq al-Kabir, the latest developments of the unification of the monetary authority in Libya.
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Deputy Governor of the Central Bank of Libya (CBL), Ali Al-Hibri, has accused “the current political class” in Libya of not showing any interest in the future of the country’s economy.
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Libya’s National Oil Corporation (NOC) had net revenue of $21.6 billion in 2021, with $4.3 billion in net revenue during November and December, it said in a statement on Friday.
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Libya’s oil production is rising gradually after a blockade of its western fields ended and ports in the east re-opened, according to Oil Minister Mohamed Aoun.
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