National Oil Corporation (NOC) will focus on raising its output and transparency, new acting chairman Massoud Suleman told Reuters, as Africa's second-largest oil producer looks to recover from years of instability.
Muammar Gaddafi, has been disrupted by violent factionalism and labour disputes.
plummeted several times last year amid wrangling between rival groups, including over leadership of the central bank, which controls Libya's oil revenue.
Reuters that the country needs $3-$4 billion to reach an output of 1.6 million bpd.
Foreign investors are wary of putting money into Libya, which has long been split between rival factions in the east and west backed by Turkey and Russia.
Crude-for-fuel swaps
central bank and the Tripoli-based Government of National Unity to determine the "appropriate mechanism to provide a sufficient budget that ensures the country's complete supply of refined petroleum products".
Reuters are the first to outline the possible office closures and his first on the decision by the attorney general to halt NOC's use of crude-for-fuel swaps.
called on the group to reduce crude prices.
(Reuters)
Read More Details
Finally We wish PressBee provided you with enough information of ( Libya's state oil firm looks to boost output, transparency )
Also on site :