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

TRIPOLI: Libya's state oil company said on Sunday it welcomed the "unconditional" reopening of blockaded oil ports following a deal between the UN-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.