North Africa

Libya

Prior to the 2011 revolution Libya was a key member of Opec, producing in excess of 1.5mn b/d. While to paper such levels appear within touching distance, persistent political instability remains the biggest challenge to overcome.

State of Play

Long North Africa’s biggest oil producer, Libya has been chronically unstable since the 2011 revolution that overthrew Gaddafi. An eight-month oil blockade in 2020 reduced crude output to its lowest level since 1962. While oil is flowing again, the future trajectory of the sector remains firmly tied to Libya’s ever-tenuous political atmosphere.

2021 In Numbers

Crude Output	1.181	mn b/d
Gas Exports	3.23	bcm
Oil Rig Count	13	-
Gas Rig Count	0	-

Geopolitical Risk

2 Dec, 2022

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Libya’s Gas Export Dreams Face Hard Reality

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