Libya earns $371m from oil exports since start of 2026
The Central Bank of Libya (CBL) announced on January 15th that national oil revenues have hit $371 million since the start of 2026, according to the Libya Review.
This figure continues the strong market performance enjoyed by the Libyan oil industry during the tail end of 2025. The CBL reported that the total annual oil revenues earned in December alone sat at $1.349 billion, which was comprised of $1.127 billion in crude oil sales and $222 million from petroleum royalties.
Libya recorded its highest oil production rate and revenue levels in a decade over 2025 by producing an average of 1.4 million barrels of crude oil per day. This amounted to 501 million barrels over the full 12 months and earned the North African nation $21.9 billion, marking a 15% increase compared to 2024’s figure.
Libya has the largest natural oil reserves of any country in Africa and has recently engaged in several development initiatives to tap the vast potential of its energy sector, benefitting from several foreign investments in the process.
The year of 2026 is already showing promising signs regarding prospective international commercial contractors seeking to invest in Libya’s energy sector. Multiple corporations – including Shell, Chevron, TotalEnergies, Eni and ExxonMobil – met in Washington on November 23rd to express strong interest in participating in the 2026 Libya Energy conference.
The conference, officially called the “Libya Energy & Economic Summit”, is set to be held in the nation’s capital of Tripoli between 24th – 26th January and expects to host over 700 organisations from more than 30 countries, according to the official event website.
Despite the meteoric revitalisation of Libya’s energy sector on the commercial front, the fruits of the lucrative oil industry have not manifested any meaningful change to Libyan citizens, who are struggling with increasing costs of living and the second highest unemployment rate in the Arab world at 17.3%.
Libya Review, Maghrebi.org, Libya Energy and Economic Summit
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