Libya’s NOC targets 1m barrels
Issue 348
- 16 Jun 2017
| 3 minute read
Libya’s National Oil Corporation (NOC) has said it expects production to reach 1m b/d by mid-July, despite the massive political, financial and security challenges that threaten to impede its ability to function normally. The corporation is currently pumping an average of 830,000 b/d, and is targeting production of 1.25m b/d by mid-August. A 13 June deal to resume production from Wintershall’s concessions has, for the time being, confirmed NOC’s practical authority over the negotiation of production contracts with its international partners.
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