Libya’s daily oil production exceeded 1.2 million barrels

Libyan National Oil Company Chairman Ferhat bin Kıdara has said that the country's oil production slightly exceeded 1.2 million barrels per day.

Libyan National Oil Company Chairman Ferhat bin Kıdara, Chairman of the Presidential Council Mohammed al-Menfi, Chairman of the Government of National Unity Abdulhamid Dibeybe, Chairman of the Central Bank of Libya Es-Siddiq al-Kebir and Head of Accounting Bureau Halid Sheksek met in the capital Tripoli, TRT Haber reported on August 11. 

In the written statement made after the meeting, Bin Kıdara stated that since he took over the task, the goal of the institution is to increase production levels.

Bin Kıdara emphasized that oil production slightly exceeded 1.2 million barrels per day and exceeded the production amount before the oil field closure crisis.

Ferhat Ömer bin Kıdara was appointed to replace Mustafa Sanallah as part of the efforts of Dibeybe, the Prime Minister of the National Unity Government in Libya, to re-establish the National Petroleum Corporation Board of Directors on 12 July.

It was announced that Bin Kıdara, the new head of the National Petroleum Corporation, officially took over his post on July 14.

In a statement on July 26, Bin Kıdara stated that the daily oil production, which was 870 thousand barrels a week ago, reached 1.025 million barrels.

Since April 17, Libya has been experiencing disruptions in production in oil fields and activities in oil exporting ports due to security problems in various regions.

During this period, the daily production in the three oil fields had decreased to a total of 100 thousand to 200,000 barrels.

In a statement on July 16, the leaders of the Libyan Oil Crescent region announced that the crisis in the oil fields and ports, which had been closed for 3 months, had ended and oil exports had resumed.

A significant part of the national income in Libya is obtained from crude oil. The disruption in oil production, which is used as a “pressure factor”, causes livelihood problems in the country.

Libya, which produces 1.4 million barrels of crude oil per day under normal conditions, aims to increase its production to 1.6 million barrels by 2025.