Libya: $15.2 Billion in Oil Revenues During the First Eight Months of 2026

Oil sector revenues amounted to approximately $15.2 billion during the period from January 1 to August 31, 2026, according to data from the General Directorate of Corporate Accounting at the Ministry of Oil and Gas.

The revenues were distributed as follows: $11.9 billion from crude oil exports, $2.4 billion from oil taxes and royalties, and approximately $0.9 billion from sales of natural gas, condensates and petroleum products.

The Ministry of Oil and Gas continues to publish indicators and data on the sector’s performance as part of its efforts to strengthen transparency and communication regarding oil revenues, as well as to highlight the contribution of the oil and gas sector to supporting the national economy.

Speaking at a forum held in the Thai capital, Bangkok, Libyan Minister of Oil and Gas Khalifa Rajab Abdelsadek said Libya intends to raise gas production to 4 billion cubic feet per day over the next three to five years.

According to information reported by Asharq Bloomberg, the Libyan minister stressed that there are “considerable opportunities” to reach this production level by relying solely on already discovered resources of both non-associated and associated gas.

As part of the National Oil Corporation’s (NOC) efforts to strengthen cooperation with major international companies and attract advanced expertise and technologies to Libya’s oil and gas sector, the corporation’s chairman held an expanded meeting with representatives of several major British and international companies operating in the oil, gas and energy sectors, including BP, Shell, KBR, Vitol and Glencore.

The meeting also addressed several issues deemed important and high-priority, including the development and expansion of oil and gas production; improving the efficiency of facilities; maintenance and the management and security of assets; infrastructure development; the adoption of modern technologies; as well as training, knowledge transfer and the strengthening of national capabilities.

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