Libya oil output to double by November
Leaked report provides updates on oil production from the all the country's fields; output nearing 370,000 b/d
LIBYA'S oil output continues to rise more quickly than expected and should reach almost 750,000 barrels a day (b/d) by the end of October and more than 1 million b/d by year-end, according to an internal document prepared for National Oil Corporation (NOC). Oil production is now at 365,654 b/d, said the report. The report, leaked to Petroleum Economist, gives the most detailed and authoritative assessment of Libya’s oil sector since fighting erupted in the country in February, and suggests output is recovering far more quickly than expected. Production from Sarir and Misla, two oilfields operated by NOC unit Arabian Gulf Oil (Agoco) in Libya’s east, has reached 220,000 b/d, said the report,
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources