The Central Bank and the National Oil Corporation discuss a mechanism to support increased daily oil production.

Tripoli, July 2, 2025 (LANA) – Governor of the Central Bank of Libya (CBL) Naji Issa discussed on Wednesday with the Chairman of the Board of Directors of the National Oil Corporation (NOC), Masoud Suleiman, support for the corporation's efforts to increase daily production.

According to the bank, the meeting was attended by the Chairman of the Management Committee of the Libyan Foreign Bank (LFB) and its General Manager, along with several department directors from the CBL and the NOC.

The meeting discussed ways to support the NOC's efforts to increase daily production by approximately 247,000 barrels, achieving additional revenues estimated at approximately $6 billion annually. This will enhance the CBL's ability to meet the demand for foreign currency, maintain the strength of the Libyan dinar, and achieve the desired economic balance.

Attendees stressed the importance of continuing to hold bilateral meetings and encounters between the two sides to increase coordination and provide the necessary financial resources to implement planned projects through local and external financing channels, including the LFB and a number of international banks, with the aim of enhancing the production capacity of the oil sector.

The meeting also included a visual presentation by the NOC on the plan to improve oil production in Libya for the years 2025 and 2026.