Libya’s National Oil Corporation Eyes 660,000 BPD Refining Capacity to Achieve Fuel Self-Sufficiency
Libya’s National Oil Corporation has unveiled an ambitious plan to nearly double its refining capacity to 660,000 barrels per day as part of a comprehensive strategy to reduce dependence on imported fuel and strengthen the national economy. Chairman Masoud Suleiman outlined the initiative in a Facebook post, explaining that boosting domestic fuel production represents a key pillar for economic improvement in the oil-rich North African nation.
Suleiman acknowledged that Libyan oil refineries currently suffer from simple designs, outdated technologies, and weak output, creating a significant gap between refinery production and local market consumption. The total refining capacity of local refineries stands at 380,000 barrels per day across five basic refineries, but actual production currently amounts to only about 180,000 bpd following the shutdown of the Ras Lanuf refinery in 2013. This situation has forced the country to increase its reliance on imported fuel.
The corporation’s plan involves upgrading existing refineries and raising refining capacity to 660,000 bpd, alongside constructing a new refinery and completing the Southern Refinery. These developments would enhance domestic fuel production, reduce dependence on imports, and improve the economic viability of the oil sector.
According to Suleiman, the expected impact of developing the refining industry would lead to self-sufficiency in gasoline by 2037, cooking gas by 2033, and diesel by 2034. This would contribute to greater stability in the local market and provide sustainable support to the national economy. The chairman stressed that current challenges will not deter the corporation’s efforts to build a more efficient and sustainable oil sector that serves citizens and strengthens the oil industry’s contribution to national development.
Source: libyaobserver.ly
