Libya Oil Production Surges Toward 2 Million Barrel Target
National output rises 7,600 barrels daily as major international operators return to bolster ambitious growth plans
Libya’s oil production has experienced a significant uptick, rising by approximately 7,600 barrels per day in the past 24 hours as the country pushes toward its ambitious target of reaching 2 million barrels per day by year-end. The National Oil Corporation (NOC) reported current production levels of 1,388,330 barrels per day, up from 1,380,756 barrels the previous day.
The positive momentum reflects gradual stabilization in Libya’s oil sector, with condensate output reaching 52,740 barrels and liquefied gas production totaling 2.57 billion cubic feet over the same period. This improvement is backed by the return of major international operators including BP, Shell, Eni, Chevron, and TotalEnergies, signaling renewed confidence in Libya’s energy sector stability.
Production stability has been further reinforced by improved operations at key export terminals including Es Sider, Ras Lanuf, Marsa al-Brega, and Zuetina. These facilities serve as crucial gateways for Libya’s oil exports to international markets, particularly Europe.
In a significant development for the country’s long-term prospects, Libya has launched its first licensing round in 17 years, offering 22 blocks under terms that have already attracted strong international interest. With 48 billion barrels of proven reserves and a strategic location close to European markets, Libya is well-positioned to strengthen its role as a reliable regional energy supplier.
The country’s oil recovery comes at a crucial time for global energy markets, as international buyers seek to diversify supply sources and reduce dependence on volatile regions. Libya’s light, sweet crude remains highly sought after by refiners due to its quality and relatively low processing costs.
Source: energycapitalpower.com
