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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
