Libya’s oil minister has accused international oil companies operating in the country of taking advantage of the political instability in the country to delay their development plans. Earlier this year, Libya’s National Oil Corporation issued a statement saying that oil majors including BP and Italy’s Eni had lifted the force majeure declared on their Libyan operations, effectively returning to the country. At the time, the National Oil Corporation said the international companies had notified it of their intentions to resume their contractual obligations with the Libyan state oil company. The tender will be held in 2024 and should help Libya move closer to its target of 2 million bpd in daily oil output by 2026. Libya is currently producing some 1.24 million bpd, according to the National Oil Corporation.

Source: Libya Today November 24, 2023 12:01 UTC