Sweet and Light Crude Oil - The Libyan Reboot

Libya’s Oil Comeback: Powering Towards a New Era

After years of disruption, Libya’s oil industry is roaring back. In May 2025, production hit 1.23 million barrels per day—the highest in over a decade—signaling a dramatic recovery for the country’s most vital sector. By the end of 2024, the National Oil Corporation (NOC) had already surpassed expectations, reaching 1.4 million bpd. The 2025 target? 1.6 million bpd, with sights set on 2 million in the coming years.

Investment and Expansion

Key fields like Chadar in the Sirte Basin are now online, contributing both crude and natural gas, while major infrastructure projects—including a $600 million refinery upgrade with Honeywell—promise to modernize Libya’s energy backbone.

Global Partnerships Reignite

Libya is opening its doors to foreign investment for the first time in nearly two decades, launching oil and gas licensing rounds and partnering with Turkey’s TPAO for offshore exploration. International interest is surging, offering a lifeline to the country’s energy ambitions.

Challenges Remain

Political instability and infrastructure vulnerabilities still pose risks. Protests, maintenance issues, and intermittent shutdowns at major fields like Sharara and Waha highlight the ongoing challenges facing the NOC.

Economic Upside

Despite these hurdles, the oil rebound is fueling Libya’s economy. The World Bank projects a 12.3% GDP growth in 2025, driven largely by the energy sector, while oil exports remain resilient.

Libya’s oil story is no longer just about survival—it’s about resurgence. With the right stability and investment, the country could once again become a major player in global energy markets.