Libya’s oil production edges up to 1.39 million barrels per day

Libya’s crude oil production reached 1,388,330 barrels per day over the past 24 hours, compared with 1,380,756 barrels per day the previous day, according to a statement issued on Saturday by the National Oil Corporation (NOC).

The statement added that condensates output stood at 52,730 barrels, while liquefied gas production was about 2.57 billion cubic feet during the same period.

The update came as global oil prices fell on Friday amid concerns over ample supply and weaker demand, though expectations of the first US Federal Reserve interest rate cut this year may provide some support to consumption.

Exports and investor confidence

Economic analyst Mohamed Mahfouz noted that Libyan oil exports have shown a clear recovery, with NOC production averaging around 1.4 million barrels per day in August 2025. He said the corporation is aiming to reach 2 million barrels per day by the end of the year, supported by the return of major international companies such as bp, Shell, Eni, Chevron and TotalEnergies.

According to Mahfouz, Libya’s light sweet crude has regained competitiveness, with Indian refiners increasing purchases to reduce reliance on Russian supplies and European Union imports surpassing 22 billion US dollars in 2024. He added that key terminals such as Es Sider, Ras Lanuf, Marsa al-Brega and Zuetina are operating more efficiently.

Strategic position and reforms

Mahfouz stressed that raising output is not sufficient on its own and that stability, transparency and fair governance are essential to sustain investor interest. He pointed to the government’s decision to launch its first licensing round in 17 years, offering 22 blocks under conditions that attracted leading global firms.

He outlined three conditions for turning current momentum into long-term investment: securing production sites and ports, ensuring transparent contracts and tenders, and establishing a regulatory framework that reassures international partners.

He added that Libya should aim not only to export crude but also to develop partnerships that bring technology transfer, training for local staff and infrastructure projects.

Institutional strength

Mahfouz underlined that the oil sector’s success depends on strong institutions. He cited the example of Emad Ben Rajab within the NOC, who promoted transparency and contract reviews after the Supreme Court overturned a July 2023 ruling against him, confirming he had no criminal record. Protecting technocratic leadership, he argued, is essential to safeguard the energy sector.

Broader outlook

With proven reserves of 48 billion barrels of oil and significant gas deposits, Libya remains well-positioned to serve as a strategic supplier to Europe and Asia. Its geographical proximity to European markets and potential investments in renewables such as solar energy could further strengthen its role as a regional energy hub.

However, Mahfouz warned that political divisions, the presence of armed groups, and persistent issues of corruption and weak transparency continue to threaten progress.

He concluded: “Libya’s return to the global energy map is real, and the rise in exports reflects renewed confidence. But lasting success requires institutional discipline, security stability and genuine transparency. If these principles are upheld, Libya’s oil wealth can shift from being a source of fragility to a driver of growth and national stability.”