Libya produces 1.24 mln barrels of oil per day

Xinhua
21 Nov 2023, 12:55 GMT+10

TRIPOLI, Nov. 20 (Xinhua) -- Libya's state-owned National Oil Corporation (NOC) Monday said the country's daily oil production has reached 1.24 million barrels.

"Crude oil production reached 1,240,000 barrels per day, and condensate production reached 50,000 barrels per day during the past 24 hours," the firm said in a statement.

More than 3.6 million barrels of crude oil were produced in Libya in October, it said, adding that some 1 billion cubic meters of natural gas were produced during the same period.

Oil and gas are a major source of Libya's revenue. However, the sector has suffered from armed conflict, oil fields and port closures over the past years.

In November last year, Minister of Gas and Oil Mohamed Aoun announced that Libya is seeking to increase oil production to 2.1 million barrels per day and natural gas production to about 4 million cubic feet per day over the next five years.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sierra Leone Times.

More Information

26 ℃

Mostly Cloudy in Seletar

Business

Section

Microsoft president denies super-intelligent AI possible in 12 months

REDMOND, Washington: Microsoft President Brad Smith said there is no chance of super-intelligent artificial intelligence (AI) being developed within the ...

EVs not as reliable as conventional cars, trucks: Consumer Reports

NEW YORK: A survey by Consumer Reports found that electric vehicles (EV) from 2021 through 2023 model years encountered nearly ...

Singapore, Zurich, Geneva are among world's costliest cities

LONDON, UK: In a report released this week, the Economist Intelligence Unit (EIU) said that Singapore and Zurich tied for ...

FAA's new aircraft certification policy changes key flight controls

WASHINGTON D.C.: This week, the U.S. Federal Aviation Administration (FAA) said it implemented a new aircraft certification policy, which requires ...