Libya's oil output hits highest level in over a decade
TRIPOLI: Libya's oil production has risen to about 1.43 million barrels a day, the highest level recorded in more than a decade, chairman of National Oil Corporation, Masoud Suleiman, said on Sunday.
Suleiman told a meeting that oil sales revenue for February exceeded $2 billion and was transferred in full to the state treasury without deductions, the first time this has happened in years.
He said domestic fuel supplies remain stable despite global crises and that maintenance on the Al‑Sharara oilfield's export pipeline has been completed, with production returned to normal levels.
Suleiman warned that maintaining and increasing output depends on the stability of the power grid and on improvements in production efficiency.
Oil and gas exports are Libya's main source of revenue, but have been repeatedly disrupted by conflict and political instability.
The Al‑Sharara oilfield, the country's largest, lies about 900 km south of the capital Tripoli and has a capacity of more than 300,000 barrels of crude oil a day.
By RSS/Xinhua
