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Minister of State for Economic Affairs: Government Plans to Boost NOC Production to 2 Million BPD.

Pulbished on:

Tripoli, 9 September 2021(Lana) The Minister of State for Economic Affairs Salama Al Ghuwail has said that the Government of National Unity was planning to assist the National Oil Corporation upgrade its oil production to 2 million bpd.

In addition to that, he said, there was a tendency to look for private financing sources from foreign institutions in accordance with Libyan laws and legislations which protect investors’ moneys.

‘Libya does not need IMF financial assistance with its abundant resources, Al Ghuwail said, adding that the Libyan economy was in need of increasing oil production as a result of the current circumstances.

He said political conflict has led to increase of the financing gap, and that negotiation with the IMF involved technical and financing assistance.

=Lana=