TRIPOLI, Jan. 29 (Xinhua) -- Libya's daily oil production exceeded 1.407 million barrels on Wednesday, according to the state-owned National Oil Corporation (NOC).

"Libya's crude oil production today reached 1,407,939 barrels per day (bpd), and condensate production reached 41,552 barrels," NOC said on its official Facebook page.

"Gas production indicators recorded a value of 196,983 equivalent barrels, bringing the total production to 1,646,474 barrels per day," the statement said.

Libya's oil industry, the backbone of its economy, has frequently been caught in the crossfire of political disputes since the fall of former leader Muammar Gaddafi in 2011.

Speaking at the third edition of the Libya Energy and Economy Summit held recently in the capital Tripoli, NOC Acting Chairman Masoud Sulaiman announced the target that Libya aims to raise production to 2 million bpd within three years, pending necessary investment. Enditem

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