The Address | Benghazi – Libya
ALGIERS – Chairman of the Tripoli-based National Oil Corporation, Mustafa Sanalla, said on Sunday that Libya’s oil production climbed to the highest since 2013 and can go even higher if security at the nation’s energy facilities can be improved, Bloomberg reported.
During a meeting with the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) in Algeria, Sanalla said Libya’s output was recently 1.278 million barrels a day and can be increased by “hundreds of thousands” of barrels a day with improved security. Still, continued instability in the country with Africa’s largest oil reserves means the NOC may have to revise its 2022 production target of more than 2 million barrels a day, he said.
A string of security incidents has hobbled Libya’s oil production, the last of which was recent clashes in the capital that caused the destruction of most of the oil deposits, according to a statement by Sanalla on Friday.
The oil ports and fields, most of which are located in Cyrenaica, Fezzan and areas under the control of the Libyan National Army (LNA), are protected and secured by the LNA led by Marshal Khalifeh Haftar after being freed in 2016 from extremists and armed groups that had stopped exporting Libyan oil for years and caused billions of dollars in losses to the oil sector, according to the National Oil Corporation.