London-Libya’s main oil chief has set his sights on boosting oil production to 1.50 million b/d in 2020 from current levels of 1.25 million b/d, as the country’s oil production and exports have been largely unaffected this year despite the civil unrest engulfing the North African country. Mustafa Sanalla, the head of state-owned National Oil Corp., said late Wednesday the rise assumes 350,000 b/d of new output coming online next year, but that will be slightly offset by a natural decline rate of 7%-8%.
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