Libya’s Central Bank and NOC Unite to Boost Oil Production by 247,000 Barrels Daily
Central Bank of Libya Governor Naji Issa conducted strategic discussions with National Oil Corporation Chairman Masoud Suleiman to establish support mechanisms for increasing daily oil production by approximately 247,000 barrels, potentially generating additional revenues of $6 billion annually.
The high-level meeting, attended by Libyan Foreign Bank officials and department directors from both institutions, focused on enhancing the Central Bank’s ability to meet foreign currency demand, maintain the Libyan dinar’s strength, and achieve desired economic balance.
Participants emphasized the importance of continued bilateral meetings to increase coordination and provide necessary financial resources for implementing planned projects through local and external financing channels, including the Libyan Foreign Bank and international banking partners.
The comprehensive discussion included a detailed presentation by the NOC outlining strategic plans to improve Libya’s oil production for 2025 and 2026, targeting enhanced production capacity across the oil sector through coordinated financial and operational support.
Source: lana.gov.ly
