Libya’s Minister of Oil and Fuel, Dr. Khalifa Abdulsadek, shared plans to extend the nation’s refining capability from 300,000 to 400,000 barrels per day (bpd) as a part of its long-term technique to boost power safety and sustainability.
Minister Abdulsadek mentioned Libya’s power technique and priorities throughout the closing session of the Libya Power&Financial Summit (LEES) 2025. The session – Libya’s Path to Power Resilience – Strategic Priorities for a Sustainable Oil&Fuel Future – was moderated by Aydin Calik, Senior Reporter at OPEC and North Africa, Argus Media.
“We’re additionally producing petroleum merchandise to maintain our demand as soon as we hit the two-million-barrel-per-day mark,” mentioned the Minister. He additionally acknowledged that the nation goals to realize full self-sufficiency in refined petroleum merchandise by way of native refineries comparable to Marsa al Brega and Ras Lanuf.
Along with refining, Minister Abdulsadek outlined Libya’s method to pure gasoline manufacturing and exports, emphasizing the steadiness between home demand and export alternatives. “Europe is in want of gasoline proper now, and that is why the [Greenstream pipeline] to Italy is essential. We have now outlined a gasoline export technique. To maximise exports, you’ll want to control the native demand first, as it’s rising for energy era.”
Libya’s huge untapped gasoline sources are central to the federal government’s plan to cut back flaring. “We’re placing collectively a gasoline utilization challenge proper now as we converse that ought to make the most of 120 million cubic ft of gasoline per day. That is according to our zero-flaring coverage by 2030,” he acknowledged. “In some unspecified time in the future in time, we’d contemplate producing LNG, however proper now, we’re targeted on pipeline gasoline.”
Minister Abdulsadek additionally addressed the crucial subject of financing. “On the NOC and the Ministry, we are inclined to imagine in miracles, and financing is the largest problem to get entry to the very best expertise and providers. We have now seen a number of service firms throughout the occasion. We acknowledge the problem of financing. We confronted challenges, however managed to extend output.”
He emphasised the federal government’s dedication to securing funding for power initiatives regardless of the nation’s political challenges. “The federal government is doing its greatest to supply funds for power initiatives. Typically, it’s not simple to allocate a funds for the state when you might have a divided administration. We’re working carefully with the Minister of Finance and the Central Financial institution to safe funds for initiatives in Libya.”
Distributed by APO Group on behalf of Power Capital&Energy.
