Libya plans to pump 2.1 million bpd of crude oil by 2021 if the security situation improves, the chairman of the National Oil Corporation, Mustafa Sanalla, said as quoted by Reuters this weekend. The ambitious plan would represent a doubling of the current rate of production in the North African country: according to Sanalla, Libya’s output currently stands at 953,000 bpd. That’s less than what the country produced earlier this year, prior to the latest blockade of the largest field, Sharara, which removed more than 300,000 bpd from the total daily average. However, it’s more than what Libya pumped in the summer when violent clashes at its oil terminals crushed oil production by almost half from the 1 million bpd earlier in the year. Sharara, on which NOC declared force majeure in mid-December, has yet to resume production when the security conditions for workers improve, Sanalla said, adding that […]