Oil production in Libya has risen to about 1.43 million barrels per day (bdp), the highest level recorded in more than a decade, according to the country’s state oil firm.
The Chairman of the National Oil Corporation, Masoud Suleiman, disclosed this during a meeting on Sunday, as reported by a local news outlet.
“Libya’s oil output has risen to approximately 1.43 million barrels per day,” Suleiman said, describing the development as the highest production level in over ten years.
Suleiman also said oil revenues have improved alongside the rise in production, noting that sales in February exceeded $2 billion.
He added that the proceeds were fully remitted to the state treasury without deductions, describing it as a rare occurrence in recent years.
“February oil sales revenue exceeded $2 billion and was fully transferred to the state treasury without deductions,” he said.
Supply remains stable despite Middle East tension
Despite ongoing global energy disruptions caused by the conflict in the Middle East, Suleiman said domestic fuel supply across Libya has remained stable.
He also confirmed that maintenance work on the export pipeline connected to the Al-Sharara oilfield has been completed, allowing production to return to normal levels.
According to him, restoring operations at the field played a role in boosting overall output.
Suleiman noted that sustaining and increasing oil production would depend largely on improvements in electricity supply and operational efficiency across oil facilities.
He stressed that stable power supply remains critical to maintaining production levels.
Oil as Libya’s key revenue source
Oil and gas exports remain Libya’s primary source of revenue, accounting for the bulk of government income. However, production has faced repeated disruptions over the years due to political instability and conflict.
The Al-Sharara oilfield, the country’s largest, is located about 900 kilometres south of Tripoli and has a production capacity of more than 300,000 barrels per day.
The latest increase in output reflects efforts by Libya’s oil authorities to stabilise production and maximise revenue at a time of shifting global energy dynamics.
