Libya’s oil production passes 1 million barrel mark
By Sami Zaptia.
London, 7 November 2020:
Libya’s crude oil production exceeds the one million barrels per day mark, the country’s state National Oil Corporation (NOC) announced today. It reported production at 1,036035 barrels a day.
The NOC thanked god and ‘‘employees of the oil sector in different parts of Libya who managed to accomplish these huge achievements which could have never been achieved without their intensified and exceptional efforts that were exerted under very difficult circumstances particularly the current financial circumstances that the sector goes through’’.
It added that it faces ‘‘very big financial difficulties and a huge shortage of its budgets which led to accumulating of debts on the sector’s companies and significant delay for the salaries of its service companies’’.
However, it warned that it may not be able to sustain the current production levels and these levels may be reduced or totally ceased under the reluctance of some entities and their hindering of NOC’s efforts to increase production and restore the prosperity of the national economy’’. It did not name the entities.