Libya’s oil production has increased to 760.000 bpd, the country’s top oil chief declared on Monday.
Chairman of the National Oil Corporation (NOC) Mustafa Sanallah said in a press release the increase is the first time to be recorded since December 2014.
He confirmed that the NOC will go on with its plans to increase production to save the national economy.
On Thursday, El Sharara oil field, Libya’s largest, resumed production after gunmen from the mountain town of Zintan, closing an oil pipeline in the neighbouring town of Rayayna, agreed to end their protest. The NOC said it had restored over 200,000 barrels per day of oil production with an immediate effect.
Libya’s oil infrastructure was hit with several protests and clashes, causing billions of losses. The Libyan Audit Bureau 2016 Report indicated that the country has lost $107 billion (LYD 150 billion) since the closure of oil fields and ports in mid-2013 and up to December 2016.