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Home » Libya’s National Oil Corporation Aims to Reach Global Standards, Says Bengdara

Libya’s National Oil Corporation Aims to Reach Global Standards, Says Bengdara

Saturday, May 6, 2023 Business 2 Mins Read
NOC Chair announces plan to increase Libya’s oil production to 2 million bpd

The chairman of Libya’s National Oil Corporation, Farhat Bengdara, has stated that the corporation is working towards increasing production rates and developing the sector to reach global standards. In a video posted on the NOC’s official Facebook page, Bengdara emphasized that the continuation of oil production and its flow greatly contributes to the payment of salaries in all sectors. He also noted that the continuation of oil production contributes to stabilizing the exchange rate of the dollar and maintaining the stability of the public electricity network and fuel supply.

On Thursday, the Prime Minister of the interim Government of National Unity, Abdul Hamid Dbeibah, stressed the need to increase oil production to two million barrels per day, according to the corporation’s plan approved by the Supreme Council of Energy. Bengdara confirmed that the plan to stabilize oil and gas production and increase it to two million barrels requires the cooperation of all state institutions. He praised the decision of the Council of Ministers to approve an exceptional budget for the sector in 2022.

Bengdara also discussed ways to support the efforts of the National Oil Corporation with the Governor of the Central Bank of Libya, Saddek Elkaber, to contribute to increasing oil and gas production and stabilizing it. The corporation is working to improve the sector and reach global standards, which will have a positive impact on the country’s economy and the lives of its citizens.

Abdul Hamid Dbeibah Farhat Bengdara National Oil Corporation NOC OOTT
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