The National Oil Corporation (NOC) announces that oil production rates have increased to over 1 million barrels a day.

Despite this welcomed boost, the NOC faces significant financial difficulties and a huge shortage of its budgets which led to the accumulating of debts on the sector’s companies and significant delay for the salaries of its service companies.

NOC has warned it might not be able to sustain current levels of production because “some entities” were trying to hinder its efforts. While Libya’s warring sides are meeting this month to appoint a unity government, there’s still plenty of disagreement between them and no guarantee they’ll strike a permanent peace deal.

In Ausgust this year, NOC confirmed the return of production at the Sharara oil field south of the country. This follows lengthy negotiations by the NOC to reopen the Hamada valve, which had been illegally closed last January- resulting in the shutdown of production.

Link to NOC Libya country profile