Atwasat

Concerns about oil prices in energy market due to Libya's intention to increase crude production




Alwasat - Cairo Thu 19 Nov 2020, 05:14 PM
alwasat radio

Reuters reported that there are concerns about oil prices in the energy market due to Libya's intention to increase its crude production, which pushes it to retreat.

On Wednesday, the National Oil Corporation and the France's Total held a virtual meeting to discuss the first efforts to raise production capacity and increase production rates to their highest levels.

Total's head for the Middle East and North Africa, Stephane Michel, expressed "the company's desire to expand its investment base in Libya."

The two parties discussed “the corporation’s endeavors to raise production capacity and increase production rates to the highest levels.” They also addressed “the challenges that the corporation faces, foremost among which are the budgets needed to run the sector’s business, the completion of important strategic projects that will support the national economy, and the completion of maintenance work in all its sites.”

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