How much longer can Libya's NOC defy political gravity?
Output has soared and the state firm is targeting another 30% increase by year-end. Politics remains the big obstacle
National Oil Corporation (NOC) deserves the plaudits. Libya's oil production, hovering around 1m barrels a day in July and August, is about four times greater than a year ago. Mustafa Sanallah, the company's chairman, wants yet more, hoping to lift output to 1.3m b/d by end-2017. Civil war, political chaos and the ever-present risk of disruptions remain headwinds. As if to remind everyone of the delicate balance achieved by NOC in recent months, on 6 August gunmen stormed the control room at Zawiya, a port in northwest Libya that is the terminus for a pipeline from Sharara, Libya's largest producing oilfield. The disruption, the result of rivalry between militias at the port, looked like it
Also in this section
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results