Libya’s oil chief sees output hitting decade high by year-end

Bengdara said that US$17bil (RM77bil) of investment across 45 projects would allow the NOC to raise production to two million barrels a day within five years. — Bloomberg

Libya is aiming to boost oil production by about 8% by December, a level that will catapult it to the highest in a over a decade.

North Africa’s biggest producer should be able to pump about 1.3 million barrels a day by the end of the year, Farhat Bengdara, chairman of the National Oil Company (NOC), said in an interview.