Tue. Nov 5th, 2024

The Organization of the Petroleum Exporting Countries (OPEC) announced that Libya ranked first as the largest oil producer on the African continent, with daily production reaching 1.24 million barrels.

With this daily production, Libya has overtaken Nigeria, which used to occupy the first place, as a result of the country’s efforts to increase production with the aim of reaching 2 million barrels per day by 2030, and 2.3 million barrels per day by the end of this year.

It is noteworthy that the Libyan government has developed a strategic plan to boost the volume of oil production in the country, including negotiations to grant licenses for oil and gas exploration in 2024, the resumption of production in stalled fields, and inviting international companies to participate and invest in exploration and production operations.

These steps come within the framework of Libyan efforts to strengthen the oil sector, increase its production, and strengthen the country’s role as a major player in the global oil market.

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