Oil reserves in Libya

Most of Libya remains under-explored as a result of past sanctions and disagreements with foreign oil companies.

[5] 11% or 403 million barrels (64.1×10^6 m3) of oil imports to the European union in 2010 came from Libya, making it the third biggest exporter to the EU behind Norway and Russia.

Most of Libya's territory remains unexplored due to past sanctions and disagreements with foreign oil companies.

In 2010, 28% of Libyan oil was exported to Italy, 15% to France, 11% to China, 10% to Germany, 10% to Spain 2.

The gains made by Libya through the sale of crude oil are estimated at 50 billion dollars, the country then produced 1.6 million barrels per day.

Indeed, the president of the NOC, Moustafa Sanalla, announced for the 2017 financial year, revenues of 14 billion dollars (three times more than in 2016).