Libya oil production hits three-year high

09 January 2017

State oil company chairman says crude output has hit 708,000 barrels a day

Libya’s oil production has reached a three-year high of 708,000 barrels a day (b/d), according to Mustafa Sanalla, the chairman of the state-owned National Oil Corporation.

The North African country was aiming to increase production to 900,000 b/d by the end of 2016. Despite missing this target, Libya has boosted production significantly from about 260,000 b/d in August 2016 as it reopened export terminals on the Mediterranean Sea.

Sanalla revealed the latest production figure during his visit to the Jalo oil production area, according to the local Libya Herald.

Output has increased since a deal was reached with military commander Khalifa Haftar, whose forces have taken control of oil export terminals on the Mediterranean coast.

Libya, which has Africa’s largest oil reserves, was producing about 1.6 million b/d before the uprising that ousted former leader Muammar Gaddafi in 2011. The country aims to reached 1.1 million b/d during 2017.

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