Libya's Oil Industry

Libya's oil industry is a major part of its economy, producing and exporting large quantities of crude oil, mainly from the Gulf of Sidra and Sirte Basins. The industry is managed by the National Oil Corporation (NOC), which oversees exploration, production, and export activities. Libya has significant oil reserves and is considered one of Africa's leading oil producers. However, political instability and conflict have sometimes disrupted operations, impacting global oil markets. Despite challenges, the industry remains vital for Libya's revenue and economic stability, with a focus on increasing production and attracting foreign investment.