The head of Libya’s National Oil Corp (NOC) reiterated on Wednesday the need for funds for much needed repairs in the oil industry after corroded pipelines recently hit production. Mustafa Sanalla told the Libya Investment Forum that Libya had lost about 50,000 barrels per day (bpd) of oil production at Akakus Oil in the past two weeks and that production had also fallen at Waha Oil Company due to pipeline leaks. Waha’s output fell to 130,000 bpd on Wednesday, from 285,000 bpd a day earlier, an oil source at the Es Sider crude export terminal told Reuters. read more NOC aims to raise production capacity to 2.1 million bpd in the next few years from over 1.3 million bpd […]