Libya Energy Profile: Despite Large Oil Reserves, Political Conflicts And Militia Attacks Have Limited Investments In Sector – Analysis

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.2 Despite Libya’s large oil reserves, political conflicts and militia attacks on hydrocarbon infrastructure have limited investments in the country’s oil and natural gas sectors. These challenges have also constrained exploration and development of its reserves since 2011.