Today, Tuesday, Farhat bin Qaddara, the head of the National Oil Corporation in Libya, announced that oil production surged to 1. 2 million barrels per day from 600,000 barrels per day three months ago.
Bin Qaddara added in a conference of the sector in Abu Dhabi that the Foundation does not expect any disturbance in the production of crude, and that there is an understanding that oil should not be used as a tool to achieve political goals.
Bin Qaddara urged a fair-minded strategy for the energy sector’s modernization.
“We cannot foresee using just renewable energy sources and reducing investment in hydrocarbons, since this will result in a shortage and unstable energy prices that will have an impact on the world economy,” he continued.
Libya’s oil output jumps to 1.2 million barrels.
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