Libya’s state oil firm to boost output and transparency
Libya’s national oil corporation (NOC) will focus on increasing its output and transparency, according to new acting chairman Massoud Suleman via Reuters on January 31st, as Libya, Africa’s second-biggest oil producer, tries to recover from a period of instability.
The state-owned firm oversees the production oil and gas. Since the overthrow of longtime leader Muammar Gaddafi in 2011, this has been disrupted by violent factionalism and disputes over labour.
Production fell on a number of occasions on 2024 amid quarreling between rival groups, including over leadership of the central bank which controls the country’s oil revenue.
Reuters
