Libya’s NOC accused of manipulating oil production data to avoid budget scrutiny

In reporting by North Africa Post, it says a source familiar with Libya’s oil sector has alleged that the National Oil Corporation (NOC) published inflated production figures to evade accountability for the utilization of a 60 billion Libyan dinar budget allocated to increase oil output. The North Africa Post goes on to say that according to the source, OPEC’s monthly report, released on December 13, 2024, stated that Libya’s crude oil production from October 24 to November 24 averaged 1.238 million barrels per day, excluding condensates and other additions. This contrasts with the NOC’s claim of 1.4 million barrels per day, which includes condensates. The source noted that actual production increases over the past two years amounted to just 20,000 barrels per day, despite significant budget allocations. The target of 1.3 million barrels per day for 2024 has not been achieved, and the source indicated it is unlikely to be met in 2025. The NOC has not yet commented on the allegations.