03-07-2025
CBL discusses support for boosting daily oil output by 247,000 barrels
Libya's Central Bank (CBL) Governor, Nagy Issa, held an extensive meeting on Wednesday with National Oil Corporation (NOC) Chairman Masoud Suleiman to discuss ways of supporting efforts to raise the country's daily oil production by approximately 247,000 barrels.
According to a statement on the Central Bank's official Facebook page, the proposed increase is expected to generate an additional $6 billion annually. The bank said this would enhance its ability to meet foreign currency demand, maintain the strength of the Libyan dinar, and support broader economic stability.
During the meeting, the NOC presented a visual briefing on its oil production improvement plan for 2025 and 2026.
The bank added that both sides emphasized the importance of continued coordination through bilateral meetings to secure necessary financial resources for planned projects, using both domestic and international funding channels, including the Libyan Foreign Bank and several international financial institutions.
The meeting, held at the CBL headquarters in Tripoli, was attended by senior officials from the Central Bank, the Libyan Foreign Bank, and the NOC. Tags: Central bank of Libya National Oil Corporation oil production
