Libya’s main oil chief has set his sights on boosting oil production to 1.50 million b/d in 2020 from current levels of 1.25 million b/d, as the country’s oil production and exports have been largely unaffected this year despite the civil unrest engulfing the North African country. Mustafa Sanalla, the head of state-owned National Oil Corporation, said late-Wednesday the rise assumes 350,000b/d of new output coming online next year, but that this will be slightly offset by a natural decline rate of 7%-8%. Output has remained much below 1.6 million b/d since 2011 when the country descended into civil war that led tothe downfall of the Muamar Gadhafi regime. The last time the country produced 1.50 million b/d was October […]