Libya’s state National Oil Corporation (NOC) reported today that production of crude oil and condensate exceeded 1.4 million barrels per day (bpd) this morning – achieving the highest reading recorded by domestic production indicators since 2013.
The production of crude oil and condensate today reached 1,403,680 barrels, an increase from yesterday’s readings by 22,262 barrels, while gas production reached 196,759 barrels equivalent, for a grand total of 1,600,439 barrels.
The NOC has been announcing a series of successive incremental production increases since November this year.
NOC credits its national cadres – in the absence of some foreign nationals
The NOC said it should be noted that these achievements by it and its subsidiaries would not have been possible without the struggle of national cadres in the fields and ports, who are working around the clock to raise oil production rates in order to achieve economic stability for the country.
Target to reach 2 mbpd by 2027
The NOC has previously said that these production increases come as part of implementing its strategy to increase production rates to 2 million barrels per day by 2027.
The NOC had also previously added that this target could be reached subject to continuing to receive the necessary budget for operation throughout this period without obstacles or any delay that is beyond its control.
The NOC has received huge budgets
It will be recalled that the NOC has received huge exceptional annual budgets to increase production – with the support of the government, the Central Bank of Libya and the Audit Bureau.
Libya’s recent oil production increases
| Date announced by NOC | Million barrels per day (bpd) of oil and condensates | Gas (barrels equivalent) | Grand total mbpd |
| 03/12/24 | 1,403,680 | 196,759 | 1,600,439 |
| 30/11/24 | 1.391,407 | 194,914 | |
| 29/11/24 | 1,386,030 | 203,017 | |
| 27/11/24 | 1,380,470 | 198,190 | |
| 26/11/24 | 1,372,903 | 199,776 | |
| 14/11/24 | 1,374,118 | 202,983 | |
| 05/11/24 | 1,364,438 | 208,000 |
Source: NOC
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