The National Oil Corporation confirms that it is the only entity capable of announcing or publishing the correct numbers and everything related to the Libyan oil sector.

Tripoli - February 16, 2025 (LANA) - The National Oil Corporation responded today, Sunday, to the fallacies circulated by some media outlets, including inaccurate data and information related to Libya's oil production rates. .

The Corporation explained in a statement that some media outlets circulated inaccurate data and information related to Libya's oil production rates, which were unfortunately based on unreliable sources. OPEC also published a table that includes in numbers the production rates in Libya for the past year 2024, which are not updated data for the production rates that the National Oil Corporation had announced at the time, stressing that it is the official body authorized to monitor and follow up on Libyan oil production, and it is the only one capable of announcing or publishing the correct numbers and everything related to the Libyan oil sector.

The Corporation confirmed in its statement that, in its desire to end the controversy surrounding the truth of what was published and the truth of what the Corporation announced, everything that was published on the Corporation's official page or through official statements in its name, or through official statements by its Chairman of the Board of Directors or its official spokesperson, is correct, true and reliable information and data, and there is no doubt about it and no one has the right to question it or some of it, because the National Oil Corporation is the one in charge and it alone knows what its wells and fields produce, and what its warehouses contain. It finds no harm in clarifying a few related points.

It pointed out that the numerical value of daily production rates does not necessarily have to match the numerical value of its monthly or annual average, as what the Corporation publishes on its page of numbers are for daily production rates, and not for the average of these monthly or annual numbers, which OPEC reported as numbers that contradict the value of daily production rates announced by the Corporation.

The corporation cited an example to illustrate how this confusion led to a wave of skepticism against the corporation. In 2023, for example, the average annual production amounted to about 1,189,000 barrels per day, and in 2024, this annual average decreased to 1,138,000 barrels per day due to the declaration of force majeure, while the average annual production for the same year 2024 was expected to reach 1,237,000 barrels per day.

At the same time, the corporation continued, we find that the average monthly production, in December 2024 alone, reached 1,300,000 barrels per day, while, according to another statistical pattern for reading daily rates and not annual or monthly rates, daily production on December 31 reached 1,416,000 barrels per day, because the oil industry is managed through a variety of statistics to understand patterns and relationships between data.

The National Oil Corporation said that it assures all Libyans in all parts of beloved Libya without exception that it is always committed to the highest standards of professionalism, transparency and integrity, and constantly seeks with all its capabilities to increase production capacity with all strength and competence, and seizes the opportunity to renew its pride and pride in announcing that Libyan oil production reached a monthly average of 1,400,000 barrels per day last January, with the highest daily production rate reaching 1,430,000 barrels per day, which confirms, leaving no room for doubters, that crude oil production in the country witnessed an increase of 19% during the month of January of this year 2025, compared to the actual annual average for the year 2024.

It indicated that daily production does not reflect export rates, as the total quantities of crude oil produced, a portion of which is allocated for local consumption of about 170-180 thousand barrels per day in refineries, and 15-20 thousand barrels per day in the Ubari power station according to the operating conditions of the station, and Exporting the remainder, which includes the foreign partner's share.

The corporation concluded its statement by saying that it is doing what it must do to increase Libyan production rates, and places this goal at the top of its priorities, and is working hard to maintain these rates throughout the year 2025  according to its available capabilities and potential, hoping that the Libyans will support it and rally around it.