If Libya can sustain production at 1.2mn b/d until the end of 2021, annual output will come in at a nine-year high 1.19mn b/d and up a whopping 250% on 2020 when an oil blockage crippled production (see chart).
Libya’s Road To 2mn b/d: Stability Is Key
Libya has a mid-term 2mn b/d output target. For the moment even a return to 1.5-1.6mn b/d ‘pre-Revolution’ production looks optimistic. But a surprising number of IOCs continue to believe in Libya’s long-term prospects. If stability takes hold, contractual terms are updated and progress is made in decarbonization, Libya could yet do well in the energy transition.
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IN THIS ARTICLE
Charts
Libya's Crude Output Is Set To Rebound To A Nine-Year High In 2021, But Production Still Remains Well Under Pre-2011 Capacity ('000 b/d)
Maps
Libya’s Oil & Gas Infrastructure
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