National Oil Corporation (NOC) Chairman, Masoud Suleiman, revealed a remarkable improvement in crude oil production rates, reaching about 1.43 million barrels per day, the highest level recorded in more than ten years.
The revelations came out of Masoud’s meeting yesterday with Tripoli Prime Minister Abdel Hamid Aldabaiba during which they discussed the latest developments in the oil sector, focusing on revenues, fuel supplies, and human resources development plans.
Suleiman provided a comprehensive briefing, including the transfer of all oil revenues for February to the public treasury for the first time in years, without any deductions, amounting to over two billion dollars.
He noted that the stability and increase of production remain dependent on the stability of the electricity grid and raising the efficiency of production lines.
He also reviewed the fuel supply situation for the local market, confirming the stability and availability of sufficient quantities despite the repercussions of the global crisis, with no shortages reported.
On the technical side, the Prime Minister was briefed on the completion of maintenance work on the oil export pipeline at the Sharara field in the Marhan area, and the return of operations and production to normal, carried out entirely by national personnel.
