Libyan oil minister Mohamed Oun
Libya targets 2m b/d oil before 2030
Oil minister Oun sends out cautiously optimistic message on oil and gas outlook and says pilot project ready to unlock huge shale reserves key to further growth
Libya, which has struggled with civil conflict and natural disasters, could see oil production rising to 2m b/d before the end of the decade following output having stabilised at around 1.2m b/d. The North African producer, which is rich in oil and gas and has the fifth-largest shale reserves in the world, has suffered from extreme volatility amid internal political struggles, but average oil production is now at its highest for a decade. “The aim is to increase production to about 2m b/d, and we can reach this figure gradually,” said Libyan oil minister Mohamed Oun in an interview with Petroleum Economist on the sidelines of the WPC energy conference in Calgary. “We will see start t
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
