Libya Seeks Up to $40 Billion to Boost Oil Output to 2 Million Bpd

Libya needs between $36 billion and $40 billion in foreign investment to expand its oil industry and raise output to 2 million barrels daily by the early 2030s, the Financial Times has reported, citing National Oil Corporation chairman Masoud Suleman.

The ambition to boost production to 2 million barrels daily has been front and center for the conflict-torn country that remains heavily dependent on oil revenues.