Libya will be ready to hold an oil and gas licensing round next year, Libya’s state-run oil company chief said at CERAWeek, according to Argus. If Libya does manage to hold a licensing round next year, it would be its first in nearly two decades and would help Libya reach its production goal of 2 million barrels per day within the next three years. Libya’s crude oil production in January fell to 1.148 million bpd, after averaging 1.153 million bpd in the fourth quarter of last year, OPEC data showed in its latest Monthly Oil Market Report. Libya has made some progress in paving the way for boosting gas production, including signing an $8 billion offshore gas deal with Eni, and Eni’s and BP’s exploration drilling plans in the Ghadames and Sirte basins—with offshore drilling planned for next year. Read more from Oil Price.