Libyas National Oil Company Resumes Production 500x280

Libya’s national oil company resumes production

Libyas National Oil Company Resumes Production

Libya is set to restart the last of its major oil fields following a ceasefire in its civil war.

The state energy firm lifted force majeure on exports from El Feel on Monday.

The OPEC member has mostly been offline since January.

The move will help the attempt by the Tripoli-based National Oil Corporation to boost Libyan production to 1 million barrels each day within a month.

Libya has been in chaos since a 2011 uprising that toppled and killed longtime dictator Moamer Kadhafi.

Libya, which sits atop Africa’s largest proven crude oil reserves, has been torn between the rival powers of the UN-recognised Government of National Accord (GNA) in Tripoli and strongman Khalifa Haftar who backs a rival administration in the east.

The two warring factions Friday signed a “permanent ceasefire” after five days of talks at the United Nations in Geneva.

Follow and like us:

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Follow by Email