Libya’s oil output rises to highest level in over a decade

Libya’s oil output has risen to approximately 1.43 million barrels per day, marking the highest level recorded in over a decade, Chairman of Libya’s National Oil Corporation, Masoud Suleiman, announced Sunday.

Speaking at a meeting, Suleiman said February oil sales revenue exceeded $2 billion and was fully transferred to the state treasury without deductions, a first in years, News.Az reports, citing Xinhua.

He added that domestic fuel supplies remain stable despite global crises, and maintenance work on the Al-Sharara oilfield’s export pipeline has been completed, returning production to normal levels.

Suleiman emphasized that sustaining and increasing output depends on power grid stability and improved production efficiency.

Oil and gas exports remain Libya’s main revenue source but have been repeatedly disrupted by conflict and political instability.

The Al-Sharara oilfield, Libya’s largest, is located about 900 km south of Tripoli and has a production capacity of over 300,000 barrels of crude oil per day.

News.Az 

By Nijat Babayev