Production of Libyan Crude Oil Exceeds 1M Barrels a Day

Source: www.gulfoilandgas.com 11/7/2020, Location: Africa

The National Oil Corporation (NOC) announces that it managed to raise production rates to 1036035 barrels a day.

Thanks to Allah first then to the employees of the oil sector in different parts of Libya who managed to accomplish these huge achievements which could have never been achieved without their intensified and exceptional efforts that were exerted under very difficult circumstances particularly the current financial circumstances that the sector goes through.

It is worth mentioning that the National Oil Corporation faces very big financial difficulties and a huge shortage of its budgets which led to accumulating of debts on the sectorís companies and significant delay for the salaries of its service companies.

The National Oil Corporation asserts that it may not be able to sustain the current production levels and these levels may be reduced or totally ceased under the reluctance of some entities and their hindering of NOCís efforts to increase production and restore the prosperity of the national economy.

We will update you with all the developments in this respect one by one.


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