Libya's NOC welcomes 'unconditional' opening of ports, aims for 900,000 bpd by year end

by Reuters
Sunday, 31 July 2016 15:00 GMT

TRIPOLI, July 31 (Reuters) - Libya's state oil company said on Sunday it welcomed the "unconditional" reopening of blockaded oil ports following a deal between the U.N.-backed government and the Petroleum Facilities Guard.

The National Oil Corporation (NOC) also welcomed fresh funding from the government that it said would allow it to increase production by 150,000 barrels per day (bpd) within two weeks. The NOC said in a statement that it aims to gradually increase production to 900,000 bpd by the end of the year. (Reporting by Ahmed Elumami; Writing by Aidan Lewis; Editing by Adrian Croft)

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