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Libya’s Daily Oil Production Reaches 1.208 Mln Barrels

The Libyan state-owned National Oil Corporation (NOC) on Wednesday said that the country’s daily oil production is currently 1.208 million barrels.

The daily production of condensates is 53,000 barrels, NOC said in a statement.

In July, Libya produced 36,183,022 barrels of oil, 199,601 tons of condensates and 1,104,447,849 cubic meters of natural gas, NOC said on Monday.

Oil and gas represent a major source of Libya’s revenue. However, the sector has suffered over the past years from armed conflict and oil field and port closures.

In November last year, the Minister of Gas and Oil Mohamed Aoun, announced that Libya is seeking to increase oil production to 2.1 million barrels per day and natural gas production to about 4 million cubic feet per day over the next five years.

Source: Hellenic Shipping News