Africa’s largest oil reserve holder hits 12-year high as output reaches 1.49 million barrels a day

Libya’s oil production has climbed to its highest level since 2013, with crude and condensate output reaching 1.49 million barrels per day, strengthening the country’s position among Africa’s top producers as foreign firms return to a sector built on the continent’s largest proven oil reserves.

• Libya's oil production has reached its highest level since 2013, at nearly 1.49 million barrels per day, approaching its target of 1.5 million.
• This surge strengthens Libya's position among Africa's top oil producers and highlights its vast reserves, estimated at 48 billion barrels.
• The production boost follows increased efforts by the National Oil Corporation and returning international oil companies, with new exploration blocks recently awarded.
• Despite ongoing political instability and operational challenges, the sector has shown resilience and continues to recover output.

The National Oil Corporation said crude oil and condensate output rose to 1,487,723 barrels per day, putting Libya close to its target of 1.5 million barrels per day.

The new level places Libya among Africa’s biggest oil producers, alongside Nigeria, Algeria and Angola, and strengthens the recovery of a sector that remains central to the country’s economy.

Libya also holds Africa’s largest proven crude reserves, estimated at about 48 billion barrels, or roughly 41% of the continent’s total, according to the U.S. Energy Information Administration.

Much of its recoverable oil lies in the Sirte and Murzuq basins, making Libya’s production recovery important for domestic revenue, regional supply and global crude markets.

Crude production stood at 1,438,560 barrels per day, while condensate output reached 49,163 barrels per day, according to the state oil company.

U.S. Energy Information Administration data showed that five European countries, led by Italy and Spain, took 71% of Libya’s crude exports in the first nine months of the year.

Italy received 13,434,662 tonnes of Libyan crude in 2025, nearly a quarter of the country’s total crude imports.

Sector recovery

The announcement was made during a meeting at the NOC headquarters in Tripoli, chaired by NOC Chairman Massoud Sulaiman and attended by board members, heads of operating companies and senior department officials.

Sulaiman described the production level as a major achievement for Libya’s oil sector and praised workers across fields and production sites for sustaining output despite operational challenges.

He also credited technical departments for monitoring operations, removing obstacles and supporting staff at production sites.

The NOC said it wants to continue raising output before the end of 2026, a target that would increase oil revenue for an economy still heavily dependent on crude exports.

Foreign firms return

Libya’s production recovery comes as international oil companies return to the country after years of caution.

In February, the NOC awarded new oil and gas exploration blocks to foreign companies in its first licensing round since 2007.

The winners included Chevron, Eni, QatarEnergy, Repsol and Türkiye Petrolleri, as Libya sought to revive exploration and draw capital back into its upstream sector.

The awards covered five blocks out of about 20 offered across onshore and offshore areas, including acreage in the Sirte and Murzuq basins.

Nigeria’s Aiteo won the Murzuq M1 block, giving an African company a place in the latest exploration push.

However, the limited number of awards showed that investors remain cautious, even as Libya attracted interest from major energy companies.

Libya’s recovery push

The latest production milestone points to the resilience of Libya’s oil sector more than a decade after the country entered a period of political uncertainty following the fall of Muammar Gaddafi in 2011.

Despite rival administrations, disputes over state institutions and repeated interruptions at oil fields, terminals and refineries, Libya’s oil sector has continued to recover output and attract renewed interest from international energy companies.

The NOC is also working to restore refining capacity, saying in May that it aimed to restart the Ras Lanuf refinery within a year after resolving a long-running dispute over the facility.

The 220,000-barrel-per-day refinery has been idle since 2013, but its return would strengthen Libya’s downstream sector and support domestic fuel supply.