Libya Announces Oil Production Exceeds 1.2 Million Barrels Per Day
Libya’s state-owned National Oil Corporation (NOC) disclosed on Sunday that the country’s oil output has reached 1.207 million barrels per day. In a statement on its official Facebook page, the NOC added that daily condensate production stands at 52,000 barrels.
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Earlier on Friday, the NOC reported that Libya produced over 36.5 million barrels of crude oil, 199,438 tons of condensates, and approximately 1.07 billion cubic meters of natural gas in August. The oil and gas sector is a cornerstone of the Libyan economy, as the country has the most substantial confirmed oil reserves in Africa. However, the industry has faced challenges such as armed conflicts and disruptions in field and port operations in recent years.
