Libya’s push to almost double crude output could gain momentum as rival sides prepare for a new round of talks aimed at ending a nearly decade-long conflict that has ravaged the OPEC member.
The United Nations said Sunday that political talks targeting a deal on a “unified governance framework” for the North African country are to begin Oct. 26 via video conference. Face-to-face meetings would kick-off in Tunisia on Nov. 9.
The UN announced the discussions two days after Libya’s state-run National Oil Corp. said daily crude production would rise above 1 million barrels in the next four weeks, now that the last of the nation’s ports have reopened.
Increased output and exports are critical for an economy hammered by fighting between the UN-recognized government in Tripoli, headed by Prime Minister Fayez al-Sarraj, and his eastern rival, military commander Khalifa Haftar. Libya holds Africa’s largest crude reserves.
No comments:
Post a Comment