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Libya's Oil Production Soars Once Again

- Mar 07, 2018 -

Libya's oil production surged once again, and oil exports soared to the highest level in several years. Last month, the holding of oil reserves jumped to 1.19 million barrels. Although the dictator Muammar Qaddafi stepped down and domestic conflicts broke out, Libya found a way to allow crude oil to circulate. This year, it has signed cooperation with some of the world's largest energy companies, including at least three annual freight contracts, and a $450 million oilfield investment from Total of France.