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Libya’s oil production at highest of three years

by ChemOrbis Editorial Team -
  • 25/01/2017 (14:49)
According to media reports, Libya is producing 715,000 barrels/day of oil, which is the highest level since 2014.

The reports revealed that the country is also aiming to increase its oil output further to 1.25 million barrels/day by the end of 2017 in order to regain the losses it had due to the years-long political chaos and conflict it experienced.

All of the country’s export routes are open, the reports indicated, although some have low operation rates due to the damage they were exposed to during years of conflict.

The country opened its biggest oil refinery, Sharara, last month and one of its major oil ports, Zawiya, in early January, which positively affected the country’s oil sector. It is also exempt from OPEC’s global oil production cut deal.
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