{"id":257293,"date":"2026-06-10T23:14:00","date_gmt":"2026-06-10T21:14:00","guid":{"rendered":"https:\/\/sada.ly\/en\/?p=257293"},"modified":"2026-06-12T02:15:29","modified_gmt":"2026-06-12T00:15:29","slug":"al-shalwi-the-strategic-pillars-of-the-national-oil-corporation-between-the-ambition-of-two-million-barrels-per-day-and-the-requirements-of-economic-reform","status":"publish","type":"post","link":"https:\/\/sada.ly\/en\/al-shalwi-the-strategic-pillars-of-the-national-oil-corporation-between-the-ambition-of-two-million-barrels-per-day-and-the-requirements-of-economic-reform\/","title":{"rendered":"Al-Shalwi: The Strategic Pillars of the National Oil Corporation: Between the Ambition of Two Million Barrels per Day and the Requirements of Economic Reform"},"content":{"rendered":"\n

Written by oil and economic expert Abdulmonsef Al-Shalwi<\/p>\n\n\n\n

In the oil industry, the value of institutions is not measured solely by their current production levels, but by their ability to build an integrated strategic vision that ensures sustainable production, maximizes economic returns, and protects national assets for future generations. From this perspective, the seven strategic pillars announced by the National Oil Corporation represent a comprehensive roadmap to guide Libya\u2019s oil and gas sector toward a new phase of growth and stability through 2030.<\/p>\n\n\n\n

This vision is of exceptional importance when considering that the oil and gas sector remains the backbone of the Libyan economy, providing more than 90% of the state’s public revenues and over 95% of foreign currency earnings. Consequently, any development in this sector directly impacts the national economy and citizens’ living standards.<\/p>\n\n\n\n

First: The Two Million Barrels Per Day Target \u2014 More Than Just a Number<\/h3>\n\n\n\n

Increasing production capacity to two million barrels of oil per day and more than four billion cubic feet of gas per day represents a national and economic objective before being merely an oil-sector goal.<\/p>\n\n\n\n

If achieved, and assuming an average oil price ranging between $70 and $80 per barrel, Libya would be able to generate billions of dollars in additional annual revenues compared to current production levels.<\/p>\n\n\n\n

However, achieving this target depends not only on increasing production from existing fields but also requires:<\/p>\n\n\n\n