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Libya Seeks Budget to Target 2mn bpd

OIL

A meeting was held in Tripoli, Libya yesterday between government and oil ministry officials to discuss the National Oil Company being given an ‘extraordinary’ budget.

  • The attendees also called for a plan that hikes oil production in Libya to 2 million bpd – up from around 1.2mn bpd currently.
  • The Central Bank of Libya approved last week the April-ordered temporary and emergency financial arrangements for the NOC worth 34.3 billion dinars. 15 billion dinars had been spent so far according to the Libya Observer.

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