Middle East / Africa

Libya flag
Summary | Profile

Country profile: Libya

Location: Northern Africa, bordering the Mediterranean Sea, between Egypt and Tunisia
Climate: Mediterranean along coast; dry, extreme desert interior
Terrain: mostly barren, flat to undulating plains, plateaus, depressions
Size: 1759540 sq. km total (Land area: 1759540 sq. km )
Population: 6,173,579
Languages: Arabic, Italian, English, all are widely understood in the major cities
Government: Jamahiriya (a state of the masses) in theory, governed by the populace through local councils; in practice, an authoritarian state
Capital city: Tripoli
Legal system: based on Italian and French civil law systems and Islamic law; separate religious courts; no constitutional provision for judicial review of legislative acts; has not accepted compulsory ICJ jurisdiction
Currency: Libyan dinar (LYD)
Licensing:

Country profile

Libya relies on oil and natural gas to satisfy energy consumption demand. Economic growth in Libya is dependent on the hydrocarbon industry. According to the World Bank, the country’s hydrocarbon exports account for over 95 percent of total merchandize exports and revenues from the oil and natural gas sectors amount to over half of the country’s gross domestic product (GDP).

Since the United Nations and the United States lifted sanctions over Libya in 2003 and 2004, respectively, oil majors have stepped up exploration efforts for oil and natural gas in the country. Likewise, companies have tried using enhanced oil recovery (EOR) techniques to increase production at maturing fields. Over the next six years, Libya would like to see oil production capacity increase by 40 percent from 1.8 million barrels per day (bbl/d) to 3 million bbl/d by 2013.

The Italians supplanted the Ottoman Turks in the area around Tripoli in 1911 and did not relinquish their hold until 1943 when defeated in World War II. Libya then passed to UN administration and achieved independence in 1951. Following a 1969 military coup, Col. Muammar Abu Minyar al-QADHAFI began to espouse his own political system, the Third Universal Theory. The system is a combination of socialism and Islam derived in part from tribal practices and is supposed to be implemented by the Libyan people themselves in a unique form of "direct democracy."

QADHAFI has always seen himself as a revolutionary and visionary leader. He used oil funds during the 1970s and 1980s to promote his ideology outside Libya, supporting subversives and terrorists abroad to hasten the end of Marxism and capitalism. In addition, beginning in 1973, he engaged in military operations in northern Chad's Aozou Strip - to gain access to minerals and to use as a base of influence in Chadian politics - but was forced to retreat in 1987.

UN sanctions in 1992 isolated QADHAFI politically following the downing of Pan AM Flight 103 over Lockerbie, Scotland. During the 1990s, QADHAFI began to rebuild his relationships with Europe. UN sanctions were suspended in April 1999 and finally lifted in September 2003 after Libya accepted responsibility for the Lockerbie bombing. In December 2003, Libya announced that it had agreed to reveal and end its programs to develop weapons of mass destruction and to renounce terrorism. QADHAFI has made significant strides in normalizing relations with Western nations since then. He has received various Western European leaders as well as many working-level and commercial delegations, and made his first trip to Western Europe in 15 years when he travelled to Brussels in April 2004. Libya has responded in good faith to legal cases brought against it in US courts for terrorist acts that predate its renunciation of violence. Claims for compensation in the Lockerbie bombing, LaBelle disco bombing, and UTA 772 bombing cases are ongoing. The US rescinded Libya's designation as a state sponsor of terrorism in June 2006. In late 2007, Libya was elected by the General Assembly to a nonpermanent seat on the United Nations Security Council for the 2008-09 term..

Energy production and consumption


Oil Gas
Production: 1 million bbl/day (2006 est.) 10 billion cu m (2005 est.)
Consumption: 266,000  bbl/day (2006 est.) 5 billion cu m (2005 est.)
Exports: 1 million bbl/day (2006 est.) 5 billion cu m (2005 est.)
Imports: 1,233 million bbl/day (2006 est.)  
Reserves: 45 billion bbl (2007 est.) 1 trillion cu m (1 January 2006 est.)
Major fields:



Libya - recent news

07 Jan 25
Libya: Oil production surpasses 2024 target by over 17,000 barrels
Libya's National Oil Corporation (NOC) ends 2024 with immense pride and satisfaction, having successfully overcome the extraordinary challenges facing the country. A key highlight of this success is the significant boost in oil production, which has exceeded the target outlined in the NOC’s plan for the year.
07 Jan 25
Libya: Repsol resumes exploratory drilling in Libya
Repsol has resumed its exploration activities in the Murzuq Basin after more than a decade of suspension, which began in 2014. On December 31, 2024, the company commenced drilling operations at the A1-2/130 (Neser Prospect) exploratory well.
28 Oct 24
Libya: After a halt since 2014 - Eni and BP resume operations in Libya
Eni and BP have resumed their exploration activities in Libya after halting drilling operations in the onshore region since 2014. Meanwhile, Repsol is preparing to restart drilling in the Murzuq Basin, and OMV is set to begin operations in the Sirte Basin in the coming weeks.
19 Jul 24
Libya/Italy: Saipem will ensure the subsea intervention services for the Libya - Italy pipeline
Saipem has been awarded a contract to ensure the supervision and the subsea intervention services of the GreenStream pipeline throughout the offshore and onshore sections at the Mellitah (Libya) and Gela (Sicily, Italy) terminals.
22 Jan 24
Libya's National Oil Corporation lifts force majeure and resumes full production from Al Sharara field
Libya's National Oil Corporation has lifted force majeure and resumed full production from the Al Sharara field. Libya's NOC had declared force majeure on the Sharara oil field effective January 7th, 2024, due to it's closure by protesters.

Libya - more news

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