Libya has been the second largest crude oil producer in Africa for most of the last six months.
But earnings from its near capacity 1.2Million Barrels Per Day (1.2MMBOPD) crude output are decimated by rising oil products imports, and a slump in gas exports to Italy have eaten into Tripoli’s revenues.
Libya’s crude oil output averaged 1.19MMBOPD for Q1 2023, the second straight quarter of near-1.2MMBOPD, and higher than any annual figure since 2010’s 1.54MMBOPD.
Most of the crude is exported, while the remainder is refined locally, mostly at the 120,000BOPD-capacity Zawiya refinery west of Tripoli, supplemented by small topping plants at Tobruk, Brega and Sarir.
The country’s largest refinery, the 220,000BOPD capacity Ras Lanuf plant, has been offline since 2013 due to a still-unresolved dispute between NOC and the plant’s Emirati owners.
Libya’s refined products output was 1.54Million tons (130,000BOPD) for Q1 2023, according to data from the country’s NOC.