Libyan Oil Production "Highest in 5 Years"

By John Lee.

Libyan oil output recovered sharply last year, according to a report from Platts.

It quotes National Oil Corporation (NOC) chairman Mustafa Sanalla as telling a Chatham House event on Tuesday:

"We achieved our highest production and revenue levels for the past five years ... with $24.4 billion transferred to the Libyan Central Bank in 2018, thanks to an average production level of 1.1 million barrels per day (bpd)."

Production at the 350,000 bpd Sharara field has stopped since 8th December after armed groups and local people occupied the site in protest at economic conditions and frequent power cuts.

(Source: Platts)

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