NOC: Libya’s oil production higher than 760.000 bpd for first time in over two years

The Chairman of the National Oil Corporation (NOC) in Libya, Mustafa Sanallah, said Libya’s oil production reached over 760.000 barrels per day (bpd) for the first time since December 2014.

In a statement on Sunday, Sanallah said the NOC will go on with its plans to increase the country’s oil output as it is the only way to bring revenues to the country, citing this step’s importance as included in the Audit Bureau’s report for 2016, which was issued last week.

“Libya’s revenues amounted to 86 billion dinars only, while its expenditures reached 30 billion with 21 billion deficit in 2016 and 57 accumulated deficit since the shutdown of oil terminals and fields, which is a first in Libyan history.” The Libyan Audit Bureau reported last week.

He also said that the NOC will keep on working for the sake of the Libyan citizens despite all the current efforts to derail its work by media, and non-Libyan agendas as well as by the current political challenges in the country.