London — Libya is looking to increase its crude oil production to 1.45 million b/d by the end of 2021, the chairman of state-owned National Oil Corporation said March 9. "In September we were producing 70,000 b/d and today we produce more than 1.30 million b/d," Sanalla said in an interview on Bloomberg TV. "Our target is to produce 1.45 million b/d by the end of this year, [which is based] on two barometers 0- the budget and a little [better] security." Longer term, NOC has the ambition of increasing production to 1.60 million b/d within two years and 2.10 million b/d within 3-4 years, Sanalla said. But most analysts still expect many risks to Libya's oil supply due to continued volatility on the ground and threats to terminals.

Source: Libya Today March 09, 2021 17:26 UTC