Resumption of Oil Production to Improve Libyan Economy

The recent resumption of oil production and exports would improve the country’s economy, Libyan Prime Minister Abdul-Hamed Dbeibah said on Wednesday.

Oil exports resumed on Wednesday as an oil tanker loaded 600,000 barrels of crude oil from Libya, the government’s spokesman Mohamed Hamuda quoted Dbeibah as saying in a press conference, adding that the production would increase daily.

The state-owned National Oil Corporation (NOC) on Friday announced the reopening of the country’s oil fields and ports after nearly three months of closure by protesters who demanded Dbeibah hand over power to the government appointed by the parliament in March.

Oil and gas constitute a major source of Libya’s revenue. However, the sector has suffered over the past years from armed conflict and closures of oil fields and ports.