NOC to Use Central Bank of Libya Loan to Help Boost Production

published:06/11/2025 10:20 GMT

Libya's state oil firm (NOC) plans to use a loan from the country's central bank to finance its strategy for raising oil output, its chairman Masoud Suleiman told Reuters on Wednesday. "We have a plan for a loan from central bank, and investors will also bring funds," he said. Libya is considering raising output to 1.6 million barrels per day next year and 1.8 million bpd in 2027 with the longer-term ambition of reaching 2 million bpd in the next five years, Oil Minister Khalifa Abdulsadek...More