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Free AccessLibya Targeting 1.2mn b/d Production in Two Weeks: NOC
Libya's crude oil production has reached 860,000 b/d with a target of 1.2 million b/d in two weeks, National Oil Corp said via its social media platform over the weekend.
- “The NOC is striving to increase production and bring it back to its normal rates of 1.2 million b/d in two weeks," the post said.
- Libyan production has jumped since serving chairman Mustafa Sanalla was replaced by ex-central bank governor Farhat Bengdara July 15.
- Prior to Sanalla's push from power, NOC said June 30 Libyan crude exports had ranged from 365,000 b/d to 409,000 b/d, a decrease of as much as 865,000 b/d from normal rates.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.