Libya launches first oil bidding round in more than 17 years

In an announcement during a televised address, National Oil Corporation's (NOC) acting chairman, Masoud Suleman, launched Libya’s first bidding round for oil exploration since 2011. The bidding round will feature more than 24 zones and aims to bolster Libya’s global oil output as it looks to hit a production target of two million barrels per day. Libya has however struggled to attract foreign investment due to ongoing political since the fall of ruler Muammar Gaddafi in 2011