LIBYA OIL REVIVAL AS CENTRAL BANK AND NOC UNITE TO UNLOCK $6 BILLION DOLLAR BOOST

CBL and NOC partnership is expected to boost foreign exchange reserves, stabilise the Libyan dinar, and drive national economic recovery.

Libya Oil and gas Partnership Economic recovery Development.
CBL and NOC partners to scale up oil production by 247,000 barrels per day
CBL and NOC partners to scale up oil production by 247,000 barrels per day


The Central Bank of Libya (CBL) and the National Oil Corporation (NOC) have announced a landmark alliance aimed at scaling up oil production by 247,000 barrels per day a surge projected to generate an estimated $6 billion annually.

At the heart of this strategic collaboration is an economic recovery agenda, with oil revenues poised to inject much-needed liquidity into the country’s financial system. The Governor of the Central Bank, Naji Issa, and the Chairman of the NOC, Massoud Suleiman Moussa, led a high-level meeting focused on aligning financial and technical efforts to reinvigorate Libya’s oil output and reinforce macroeconomic stability.

Also present were key figures from the Libyan Foreign Bank and senior officials from both institutions, reflecting a broad-based commitment to financing oil sector expansion through domestic and international banking channels. By ramping up production, Libya expects to not only strengthen the Central Bank’s foreign exchange reserves but also stabilize the Libyan dinar and spark long-term economic equilibrium.

A visual roadmap unveiled by the NOC detailed a two-year development blueprint (2025–2026), spotlighting infrastructure upgrades, technology integration, and funding strategies for priority projects. This roadmap forms the backbone of Libya’s bid to modernize its oil sector and reclaim its stature as a stable and strategic energy exporter.

Both institutions pledged continued collaboration through regular bilateral consultations, aiming to remove bottlenecks and fast-track key investments. The meeting concluded with a shared vision: to leverage Libya’s vast energy potential as a catalyst for national prosperity and economic transformation.

This renewed synergy between Libya’s financial and energy powerhouses marks a critical inflection point signaling not just recovery, but resurgence.

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