The Chairman of the National Oil Corporation (NOC) Farhat Bengdara has hailed, in a meeting with the Governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabir, the support of the CBL for the NOC's projects and plans to increase oil production in accordance with the vision of the Government of National Unity.
The CBL said that Bengdara reviewed with Al-Kabir the efforts of the NOC to increase production in accordance with its development program, without giving more details.
The NOC aims to increase Libya's oil production by about 8% by next December, a level that can increase Libyan oil production to the highest level in more than a decade. Bengdara said in an interview with Bloomberg a few days ago that Libya would be able to produce about 1.3 million barrels per day by the end of 2023, adding that stopping the closure of oil fields and steps such as improving the salaries of oil workers already helped increase production by about a quarter since January 2022. He said the oil production is at 1.2 million barrels per day now.Economy