Libya’s oil output reaches the highest levels since 2014

Forbes carries an article this Tuesday, reporting that the Libyan oil output sits at the highest levels since 2014, and remains on track for higher production levels in 2017.

 The North African nation is currently producing 715,000 bpd and is expected to produce around 1.3 million bpd by the end of 2017 with the goal of increasing that amount by 300,000 barrels per day by 2022.

Mustafa Sanalla, the chairman of the Libyan National Oil Corp. noted, “We intend in the coming months to lift our self-imposed moratorium since 2011 on foreign investment in new projects to achieve the best national interest for the Libyan oil sector and for Libya as a state."