Now, Libya’s average oil production stands at around 1.4 million bpd, according to the National Oil Corporation (NOC), having steadily climbed back up after several years of stagnation. In January, Libya and Egypt signed a memorandum of understanding (MoU) to strengthen bilateral cooperation in the oil and gas sector. That said, the political situation remains fraught, with major implications for the oil and gas sector.”After years of stagnation, Libya is seeking foreign participation in its energy sector once again, aimed at expanding the country’s oil and gas production. This could bring in much-needed energy revenues over the coming years and support regional energy cooperation. However, operational success will depend heavily on whether Libya’s political stability is maintained.

Source: Libya Today February 01, 2026 20:08 UTC