Libya Aims to Boost Oil Production to 2 Million Bpd by Early 2030s

Libya's National Oil Corporation (NOC) is confident the country could raise oil production to 2 million barrels per day (bpd) by early next decade from about 1. 4 million bpd now, NOC chairman Masoud Suleman told Bloomberg in an interview published on Friday.

A 2026 unified budget for Libya, brokered with the help of the United States, gives the NOC a “lifeline” of more than $2 billion (13 billion Libyan dinars) as an operating budget, the official told Bloomberg. The national oil company did not receive any funding in the 2025 budget.