North Africa


Prior to the 2011 revolution Libya was a key member of Opec, producing in excess of 1.5mn b/d. Despite the best efforts of NOC chief Sanalla to overcome chronic instability, it remains a long way off returning to this.

State of Play

Long North Africa’s biggest oil producer, Libya has been chronically unstable since the 2011 revolution that overthrew Gaddafi. Things looked on the up as the country exited 2019 with a seven-year high 1.11mn b/d. But the outlook for 2020 looks bleak as oil continues to be used as a weapon in inter-factional fighting.

2019 In Numbers
Crude Output 1.11 mn b/d
Gas Exports 5.7 bcm
Oil Rig Count 13 -
Gas Rig Count 1 -
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Libya Oil Output Down More Than 1mn B/D Resulting In Over $1.4bn Of Losses*

1: Oil Exports From Libya’s Export Terminals In 2019 ('000 B/D)

2: Libya Has Drawn On Its Forex Reserves At Times Of Lower Crude Output ($Bn, End-Year)

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