Libya’s crude oil production has reached 860,000 b/d with a target of 1.2 million b/d in two weeks, National Oil Corp. said on Twitter and Facebook on July 23. Under new management, state-owned NOC announced July 15 the lifting of force majeure on all oil terminals and fields, a day after the Tripoli-based GNU replaced long-serving chairman Mustafa Sanalla with ex-central bank governor Farhat Bengdara. Production has since jumped more than 50% from 560,000 b/d seen before the force majeure. “The NOC is striving to increase production and bring it back to its normal rates of 1.2 million b/d in two weeks,” the company said on the social media posts. Mohamed Oun, Libyan oil minister in the UN-backed Government of National Unity, had told local TV on July 22 that he expected to reach 1.2 million b/d in 10 days. Libya’s oil sector has been under severe political turmoil, […]