NOC Predicts Libyan Oil Production to Decline by Half
Libya’s state-run National Oil Company (NOC), has predicted that Libya’s oil production and exports over the next year and a half are set to nosedive to half of what was initially forecast.
Libya’s state-run National Oil Company (NOC), has predicted that Libya’s oil production and exports over the next year and a half are set to nosedive to half of what was initially forecast.
Libya’s oil production continues to fall amid tensions in the area.
Libya's El Shahara and El Feel oilfields were shut down on January 19 by a group representing the southern Libyan tribesmen.
Libya plans to increase oil output from its existing fields to 1.4 million barrels per day (b/d) by the end of 2019 and 2.1 million b/d by 2023.
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