• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Libya’s oil chief sees output hitting decade high by year end

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
89
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Libya’s oil chief sees output hitting decade high by year end

Libya is aiming to boost oil production by about 8% by December, a level that would catapult it to the highest in a over a decade.

North Africa’s biggest producer should be able to pump about 1.3 million barrels a day by the end of the year, Farhat Bengdara, chairman of the National Oil Company, said in an interview. Avoiding field closures and steps like improving oil workers’ pay already helped boost output by nearly a quarter since January 2022 to 1.2 million barrels a day now, he said.

Libya has been dogged by political turmoil ever since the overthrow and killing of leader Moammar Al Qaddafi in 2011, with a political stalemate pitting rival governments and factions against each other.

Crude production has frequently been held hostage to infighting, although output has held steady this year, offering hope that the country’s troubles might abate.

Bengdara said that $17 billion of investment across 45 projects would allow the National Oil Corp. to raise production to 2 million barrels a day within five years. If sustained, that would far exceed anything achieved during Qaddafi’s rule.

The government will offer rights to develop additional fields next year, he said.

RelatedPosts

GNCCI Urges Government to Stabilise Exchange Rate to Safeguard Growth

BoG’s New FX Rules Offer Short-Term Stability but Risk Repeating Nigeria, Kenya Mistakes if FX Controls Persist – Dr. Dumanya

Government Cuts Black Stars Budget by Over $732,000 for Upcoming World Cup Qualifiers Against Chad and Mali

NOC is restarting natural gas supply from the Mellitah complex after maintenance, Bengdara said. Flows should remain stable for the next 5 years after the work, he said.

The NOC on Tuesday signed a $1.05 billion deal with Italy’s Eni SpA to capture flared natural gas, a project that should start operating in 2025.

International companies are working in the country to expand production at some its main fields, like the Waha deposit. Italy’s Eni SpA and BP Plc are set to start new drilling operations by the end of 2024, Bengdara said.

Tags: Libya’s oil chief sees output hitting decade high by year end
No Result
View All Result

Highlights

Africa’s Road to the 2026 World Cup Heats Up As Qualifiers Resume Today

US Open: Alcaraz Advances to Semifinals; Sabalenka Set for Rematch with Pegula

GSE Composite Index Dips as MTNGH Extends Decline; TOTAL Posts First Gain in Over a Month

Chamber of Mines Pushes for Longer Stability Agreements to Safeguard Ghana’s Mining Competitiveness

Why Shorter Mining Leases Could Cost Ghana Big Projects and Jobs

Gold Price Hits Record High as Investors Seek Safety

Trending

Features

GNCCI Urges Government to Stabilise Exchange Rate to Safeguard Growth

September 3, 2025

GNCCI Urges Government to Stabilise Exchange Rate to Safeguard Growth The Ghana National Chamber of Commerce and...

BoG’s New FX Rules Offer Short-Term Stability but Risk Repeating Nigeria, Kenya Mistakes if FX Controls Persist – Dr. Dumanya

September 3, 2025

Government Cuts Black Stars Budget by Over $732,000 for Upcoming World Cup Qualifiers Against Chad and Mali

September 3, 2025

Africa’s Road to the 2026 World Cup Heats Up As Qualifiers Resume Today

September 3, 2025

US Open: Alcaraz Advances to Semifinals; Sabalenka Set for Rematch with Pegula

September 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.