Libya is working on increasing its oil production to 2 billion barrels per day both for domestic production and exports outside the country, Mohamed Aoun, the oil minister of Libya’s government of national unity, told Sputnik.
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Libya intends to raise its oil production to 1.5 million b/d in 2023 with plans to scale up to 2 million b/d within 3 years, revealed Oil Minister Mohamed Aoun.
Oil prices were little changed on Friday as the market balanced a weaker U.S. dollar and mixed U.S. jobs reports, but both crude benchmarks ended the first week of the year lower due to global recession concerns, reported Reuters.
The Organization of Petroleum Exporting Countries (OPEC) has agreed to write off Libya’s accumulated debts, estimated at 20 million Libyan dinars, Libya’s Ministry of Oil and Gas announced on Monday.
Libyan Oil Minister, Mohamed Aoun, attended the 185th meeting of the Organization of Petroleum Exporting Countries (OPEC) Ministerial Council via Zoom, according to Oil Ministry.
The Libyan National Oil Corporation (NOC) said Sunday its production of crude oil amounted to 1.210 million barrels during the past 24 hours.
The National Oil Corporation (NOC), Libya’s state-owned oil company, has approved the reactivation of the ethylene plant in the industrial complex of Ras Lanuf, in the Gulf of Sirte, after a standstill of over ten years.
TotalEnergies has completed the joint acquisition with ConocoPhillips of the 8.16% interest held by Hess in the Waha concessions, in Libya. As a result of this transaction, TotalEnergies’ interest in these concessions is increased from 16.33% to 20.41%.
Libya was ranked first among African oil producers for the month of October, with its daily production growing by about 6 thousand barrels per day to around to 1.163 million barrels of oil per day, according to the Organization of the Petroleum Exporting Countries (OPEC).
A gas pipeline connecting Libya to Greece is “useless”, according to the Ministry of Oil and Gas of the Libyan Government of National Unity, led by Prime Minister Abdul Hamid Dbeibeh.