Libya's oil output restrained
Investment is needed to boost production capacity
Oil analysts collectively raised their eyebrows in late November when news emerged from Opec that Libya had joined the organisation's production cuts, reversing its much-touted expansion plans. Previously, Libya's National Oil Corporation (NOC) had hoped to get production to 1.3m barrels a day by the end-2017, with further increases this year. Instead, the meeting's chair, Saudi energy minister Khalid al-Falih, announced that Libya, along with Nigeria, wouldn't raise output. NOC has yet to confirm or deny such a production cut, which would limit output to its current 1m b/d, but nor has it renewed talk of expansion. Until November, NOC chairman Mustafa Sanalla had resisted calls to join Opec
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
