Libya’s Sharara oilfield in 2016
Libya’s upstream caught between hope and caution
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
Libya has extended by six months the deadline for bids for its oil and gas exploration round, amid concerns among potential bidders over continuing political turbulence in the country. The exploration round was announced in March and is the first for 18 years, offering 22 concessions, split evenly between onshore and offshore. Several leading IOCs have declared an interest in bidding, but the extended deadline, with no sign of when the winning bids will be announced, may not inspire confidence. Political turbulence Libya’s bidding round is the first to be launched since the EPSA-4 round in 2007, with the National Oil Corporation (NOC)—which controls state oil operations—hoping it will help p
Also in this section
14 April 2026
The GECF has warned it may revise its projections for demand this year downwards in light of conflict in the Middle East, although it maintains its forecasts for 2027 and onwards
13 April 2026
Petroleum Economist analysis highlights sharp shift from crude oversupply to market deficit, with Iraq and Kuwait badly affected and key producers Saudi Arabia and the UAE also seeing output sharply lower
13 April 2026
Turkmenistan is moving ahead with a modest expansion of the giant Galkynysh field to sustain gas deliveries abroad, but persistent delays to other key pipeline projects and geopolitical risks continue to constrain its export ambitions
13 April 2026
Expensive electricity has forced out swathes of energy-intensive industry and now threatens the country’s ability to attract future investment in datacentres and the digital economy
