Libya's economic growth for 2024 has been revised down to 7.7% from an earlier forecast of 9.5%, primarily due to oil disruptions, political unrest, and protests. The National Oil Corporation (NOC) of Libya has announced an ambitious plan to drill 121 new oil and gas wells in 2024. This initiative aims to exploit the country's oil and gas resources, increase production, stabilize the economy, and reduce dependence on oil revenues. The delays in post-flood reconstruction have also contributed to the reduced growth forecast.
WATCH: The impact of anti-tax protests in Kenya, a crude crunch at the Dangote refinery, Namibia's plan to start the construction of its long-awaited second desalination plant in January 2025, and more. This is Africa in Business https://t.co/j82ZXoUls3
The impact of anti-tax protests in Kenya, a crude crunch at the Dangote refinery, Namibia's plan to start the construction of its long-awaited second desalination plant in January 2025, and more. This is Africa in Business https://t.co/uraXAHmw8W
Take a look at our weekly roundup of the big business stories making headlines in Africa this week https://t.co/9yUUFMdvPS
ππ±πΎ NOC Libya bets on the future: 121 new wells in 2024 to exploit oil and gas resources. A bold strategy to boost economic growth and reduce dependence on oil revenues. #Innovation #Sustainable Development #Economic Security https://t.co/JRg3XQSRrM https://t.co/Y1DkHrW8wK
ππ±πΎ #Libya: Libya's growth revised to 7.7% for 2024 (compared to 9.5%). Protests and political conflicts slow down the economy. https://t.co/zlrTpUro9D https://t.co/GPNjrqcQsd
π±πΎ π§ NOC Libya prepares to dig deep in 2024: 121 new oil and gas wells are set to be drilled. A new era for Libya's oil industry? #Development #Environment #Investment https://t.co/JRg3XQSRrM https://t.co/dCc0vYy8ts
π§οΈπ±πΎ #Libya: Delays in post-flood reconstruction and oil disruptions lower Libya's growth to 7.7% in 2024. https://t.co/zlrTpUro9D https://t.co/JTyCvAbdC7
π’οΈπ±πΎ NOC Libya announces ambitious drilling plan for 2024: 121 new wells to exploit the country's oil and gas wealth. A giant step towards increasing production and stabilizing the economy. #Libya #Oil #Gas https://t.co/JRg3XQSRrM https://t.co/DvvTI90eB3
π»π±πΎ #Libya: Libya's economic #growth revised to 7.7% in 2024 (from 9.5%) due to oil and political unrest. https://t.co/zlrTpUro9D https://t.co/rvel0a0LRZ
π³π¦ NAMIBIA BECOMES OIL EXPLORATION HOTSPOT AFTER 2.6 BILLION BARRELS DISCOVERED With production expected to begin around 2030, Namibia is gearing up for an oil boom after major discoveries by TotalEnergies and Shell. Other key developments include: Chevron: - Expected toβ¦ https://t.co/HbKnNHdnxI