Libya's Oil Production Surges to 13-Year High

(MENAFN) Libya has surged to its highest oil production levels in more than a decade, pumping approximately 1.43 million barrels per day — a milestone that signals a significant economic rebound for the sanctions-scarred, conflict-battered nation, National Oil Corporation Chairman Masoud Suleiman announced Sunday.

Speaking at an official meeting, Suleiman revealed that oil sales revenue for February alone topped 2 billion U.S. dollars — the full sum of which was transferred directly to the state treasury with zero deductions, marking the first time in years such a complete transfer had been achieved.

The NOC chief also reported that domestic fuel supplies have held steady despite mounting global pressures, and that critical maintenance work on the export pipeline serving the Al-Sharara oilfield has been successfully completed, restoring output to normal operating levels.

Suleiman cautioned, however, that sustaining and expanding production hinges on two key factors: the stability of the national power grid and measurable improvements in overall production efficiency.

The announcement carries particular weight given Libya's turbulent recent history. Oil and gas exports remain the country's dominant revenue stream, yet the sector has suffered repeated and costly disruptions driven by years of armed conflict and deepening political fragmentation.

At the center of this recovery stands the Al-Sharara oilfield — Libya's largest — situated roughly 900 kilometers south of the capital Tripoli, with a production capacity exceeding 300,000 barrels of crude oil per day.

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