Middle East Economic Survey


No 50



Libya Delays Plans To Raise Production Capacity To 3Mn B/D Until 2017

Libya has delayed its plans to boost oil production capacity to around 3mn b/d until 2017 because of budget constraints and the market situation, the Chairman of Libyas National Oil Corporation (NOC) and de facto oil minister Shukri Ghanem said on 5 December. Speaking on the sidelines of the OAPEC meeting in Cairo, Dr Ghanem explained that our plan was to reach 3mn b/d...