Libya's Oil Rush: Western Firms Bet Big
Update: 2026-01-06
Description
Libyas First Oil Field Licensing Round Gains Traction: A Mix of Hope and CautionMore than forty companies have shown interest in Libyas first oil field licensing round since Gaddafis removal, with the National Oil Corporation aiming for two million barrels per day by 2028. Western firms like Shell, BP, ExxonMobil, and Chevron are back in the game, focusing on exploration and technical studies. However, political tensions and unresolved revenue-sharing issues cast a shadow over the revival of Libyas energy sector. Production is on the rise through maintenance and new finds, but the Strategic Programs Office needs billions in investment to reach its targets. Companies like ConocoPhillips, Eni, Repsol, and OMV are considering participation, while BP eyes redeveloping major fields. Any surge in production could shake global markets, as Libyan oil is exempt from OPEC quotas. Checkout Solipillow.com
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