{"id":33984,"date":"2021-08-25T15:55:48","date_gmt":"2021-08-25T13:55:48","guid":{"rendered":"https:\/\/www.ecomnewsmed.com\/?post_type=news&p=33984"},"modified":"2021-09-03T09:32:36","modified_gmt":"2021-09-03T07:32:36","slug":"libya-must-increase-oil-production-by-40-or-1-8-million-barrels-per-day-in-2022-to-cover-expenses-and-revive-the-economy","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2021\/08\/25\/libya-must-increase-oil-production-by-40-or-1-8-million-barrels-per-day-in-2022-to-cover-expenses-and-revive-the-economy\/","title":{"rendered":"Libya must increase oil production by 40% or 1.8 million barrels per day in 2022 to cover expenses and revive the economy"},"content":"\n \n \n \nOn August 22, the governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabir announced that the country must increase its oil production by 40%. This is expected to be raised to 1.8 million barrels per day in 2022, thereby helping to cover Libya’s expenses and boost the economy.\n\n \n \n\n\n \n \n \n\u201cWith oil being almost the country’s only source of income, it is obviously essential that production rates increase in 2022. The country, which is at the top of Africa’s largest proven oil reserves, is currently pumping 1.3 million. barrels per day, \u201dhe added.\n\n \n \n\n\n \n \n \nIt should be noted that the CBL works in close collaboration with the Ministry of Petroleum and the Libyan Public Petroleum Company (NOC) and that a budget surplus can be achieved if the price of oil remains stable and if the maintenance and modernization of NOC installations are indeed continuing.\n\n \n \n\n\n \n \n \nMeanwhile, the financial institution expects oil revenues from black gold to reach $ 25 billion per year as soon as oil production stabilizes. This would be a significant increase from the $ 3.6 billion in 2020, when the freeze caused by the conflict between rival governments in the East and West resulted in the closure of infrastructure and a strong drop in production in Libya.\n\n \n \n\n\n \n \n \nIn addition, let us also note that in the short and medium term, the country should not resort to external borrowing because its total internal debt is at a level considered dangerous, above 270% of GDP.\n\n \n \n\n","author":114,"featured_media":33981,"comment_status":"open","ping_status":"closed","template":"","tags":[5751,5799,5827,6265],"location":[5723],"class_list":["post-33984","news","type-news","status-publish","has-post-thumbnail","hentry","tag-economy","tag-energy","tag-oil","tag-petroleum","location-libya"],"short_url":"https:\/\/bit.ly\/2Wm90qe","have_related_news":"","chapo":"Libya, which has enjoyed a relatively stable political climate for several months, wishes to improve its oil production by 2022 to promote sustainable development.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/08\/la-libye-doit-augmenter-sa-production-de-petrole-de-40-soit-18-million-de-barils-par-jour-en-2022-pour-couvrir-ses-depenses-et-relancer-leconomie-550x360.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/08\/la-libye-doit-augmenter-sa-production-de-petrole-de-40-soit-18-million-de-barils-par-jour-en-2022-pour-couvrir-ses-depenses-et-relancer-leconomie-550x360.png 550w","sizes":"550px","alt":"Libya must increase oil production by 40% or 1.8 million barrels per day in 2022 to cover expenses and revive the economy","width":550,"height":360,"ratio":0.67,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/08\/la-libye-doit-augmenter-sa-production-de-petrole-de-40-soit-18-million-de-barils-par-jour-en-2022-pour-couvrir-ses-depenses-et-relancer-leconomie-979x658.png","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2021\/08\/la-libye-doit-augmenter-sa-production-de-petrole-de-40-soit-18-million-de-barils-par-jour-en-2022-pour-couvrir-ses-depenses-et-relancer-leconomie-979x658.png 1170w","sizes":"1170px","alt":"Libya must increase oil production by 40% or 1.8 million barrels per day in 2022 to cover expenses and revive the economy","width":1170,"height":658,"ratio":0.67,"credit_photo":""},"acf":[],"yoast_head":"\nLibya must increase oil production by 40% or 1.8 million barrels per day in 2022 to cover expenses and revive the economy - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"On August 22, the governor of the Central Bank of Libya (CBL) Al-Siddiq Al-Kabir announced that the country must increase its oil production by 40%. 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