Azernews.Az

by Alimat Aliyeva

Libya's oil production has surged to approximately 1.43 million barrels per day, the highest level recorded in over a decade, Masoud Suleiman, AzerNEWS reports, citing foreign media.

Speaking at a meeting, Suleiman highlighted that oil sales revenue for February exceeded 2 billion dollars, all of which was transferred to the state treasury without deductions—a milestone not seen in years.

He added that domestic fuel supplies remain stable despite ongoing global energy crises, and maintenance on the Al-Sharara oilfield’s export pipeline has been completed, restoring production to normal levels.

Suleiman emphasized that sustaining and increasing output depends on the stability of the power grid and further improvements in production efficiency.

Oil and gas exports remain Libya’s primary source of revenue but have been repeatedly disrupted by political instability and conflict. The Al-Sharara oilfield, the largest in the country, is located around 900 km south of Tripoli and has a production capacity of over 300,000 barrels of crude oil per day.

The recent surge in production not only strengthens Libya’s economic outlook but also signals a potential shift in regional energy dynamics, as the country seeks to reassert itself as a key player in the global oil market.