Oil reserves in Libya are the largest in Africa, and among the ten largest oil reserves globally [1] with 46.4 billion barrels (7.38 × 109 m 3) of proven oil reserves as of 2010.

2 days ago · Libya's dinar has plunged to record lows, driven by a sharp decline in oil revenues and escalating political unrest. The Central Bank of Libya (CBL) devalued the currency by 13.3% on April 6 ...

Oct 28, 2024 · BP and Eni have returned to Libya after ten years of avoiding the country amid its civil war. Per a statement by the National Oil Corporation of Libya, Italy’s Eni resumed exploratory...

Jun 28, 2024 · Libya is among the main players in Africa’s oil industry. As of 2021, Libya’s proved crude oil reserves amounted to 48.4 billion barrels, the largest on the continent.

Oct 21, 2024 · Libya’s oil production was cut roughly in half when a blockade of major fields and ports began at the end of August. With the shutdown having ended on 3 October, output has bounced back to around...

23 hours ago · Meanwhile, Libya’s NOC has unveiled plans to offer 22 onshore and offshore exploration blocks in an upcoming international licensing round. The NOC aims to boost national crude oil production to 2 million barrels per day by 2027, encouraging international firms to return and invest in Libya’s underexplored fields and energy infrastructure.

Apr 14, 2025 · Libya’s latest oil and gas licensing round roadshow will be held in Istanbul on 17 April, as part of the country’s efforts to drum up interest in 22 offshore and onshore blocks.

Libya’s oil industry is significant because it holds the largest proven oil reserves in Africa, estimated at 48.4 billion barrels. This immense reserve potential positions Libya as a key player in Africa’s oil production and a substantial influencer in global oil markets.

• Libya was the seventh-largest crude oil producer in OPEC and the third-largest total petroleum liquids producer in Africa, after Nigeria and Algeria, in 2023. 1 At the beginning of 2024, Libya held 3% of the world's proved oil reserves and 41% of Africa’s proved oil reserves (Figure 1). 2

Aug 26, 2024 · Libya's eastern government on Monday, which is supported by warlord Kahlifa Haftar, commander of the Libyan National Army, said it was shutting down all oil fields under its control - halting...