LIBYAPROSPECT – London
The head of the National Oil Corporation (NOC), Mustafa Sanalla, said in the 8th Arab-Austrian Economic Forum, two days ago in Vienna, that Libya suffers from a severe economic situation that prevents her from participating in any oil production reduction operations shortly.
Sanalla added that Libya’s oil production was increased up to more than doubled since lifting force majeure from the crescent oil ports, last September.
Sanalla stressed that the Libyan oil could help in reuniting Libya if it can flow freely, adding that most of the Libyans refuse to close the oil ports as it affects everyone badly.
Sanalla stated that it is important that the Libyan get the benefits of increasing oil production for more revenue.