Energia Africa

Actualité, Energie, environnement, Hydrocarbures

Oil: Libya sets oil production target for 2022

Libya could increase its oil production to 1.6 million barrels per day (bpd) by mid-2022, provided the country’s National Oil Corporation (NOC) receives the necessary funding.

Libya currently produces around 1.2 million bpd, according to OPEC’s latest monthly oil market report.

A recent contraction in oil production, as well as a blockade of the country’s main oil terminals by the Libyan National Army, saw the country’s production levels drop to 100,000 bpd between January 2020 and September 2020. Following With the lifting of the blockade in September 2020 and a ceasefire from October 2020, Libyan oil production has since been restored to its current level of 1.2 million barrels per day.