At its zenith in 1970, Libya produced nearly 3.4 million barrels per day (mb/d), ranking as the second-largest Arab oil producer. Libya's proven oil reserves have doubled in the last 40 years, making it Africa's largest holder of such reserves. The geographical distribution of oil production facilities aligns with the political divide, with key terminals under different authorities. Although Libya's oil reserves could last nearly 340 years at current production levels, the lack of investment and a unified government poses a threat to its potential. The return of international oil companies could support production growth, but hitting the ambitious 2 million barrels per day target by 2030 remains uncertain.
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