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OIL: Libya’s NOC Looks to Boost Output & Transparency: Reuters

OIL
Energy BulletsBulletCommodities

Libya’s NOC will focus on raising its output and transparency, new acting chairman Massoud Suleman told Reuters.

  • "The National Oil Corporation has a strategic plan to increase production that we will continue to implement and make any adjustments to, whenever necessary," Suleman said in response to emailed questions.
  • NOC was producing at about 1.4m b/d by the end of 2024, while its long-term goal in 2m b/d.
  • He also said he is in contact with Libya's attorney general over a "request to stop the crude swap programme". NOC has used crude-for-fuel swaps as an alternative funding method.
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Libya’s NOC will focus on raising its output and transparency, new acting chairman Massoud Suleman told Reuters.

  • "The National Oil Corporation has a strategic plan to increase production that we will continue to implement and make any adjustments to, whenever necessary," Suleman said in response to emailed questions.
  • NOC was producing at about 1.4m b/d by the end of 2024, while its long-term goal in 2m b/d.
  • He also said he is in contact with Libya's attorney general over a "request to stop the crude swap programme". NOC has used crude-for-fuel swaps as an alternative funding method.