Libyan production languishes under ‘illegal blockade’
National Oil Corporation reports its lowest production since the blockade started in January as external forces gear up for clash over Sirte basin oilfields
Libya has posted its lowest monthly income from hydrocarbons since the start of the six-month blockade of its oil ports and fields, earning its National Oil Corporation (NOC) just $45.5mn during June. The blockade, imposed by General Khalifa Haftar’s Libyan National Army (LNA), has seen production plunge from 1.2mn bl/d when it began on 17 January to c.90,000bl/d now, almost all of which is from offshore platforms. The shutdown, backed by the unofficial Tobruk government—which is warring against the UN-recognised government in Tripoli—has cost $6.5bn in lost revenue. Libyan oil income goes not to the NOC but the Tripoli-based Central Bank of Libya (CBL), with funds held in European banks. Li
Also in this section
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
