Libya's oil output climbs as Mabrouk field restarts amid record revenues

Libya’s oil sector has entered a period of heightened production and record earnings, with monthly revenues reaching $2.8 billion in April and nearly $4 billion in May – the highest in over a decade. Despite the surge, political divisions and institutional fragmentation, especially disputes over the Central Bank’s control of oil proceeds, continue to limit the flow of revenue into the broader economy and have left fuel shortages in western cities.

On June 14, the National Oil Corporation announced that the Mabrouk oilfield has resumed full operations, delivering about 30,000 barrels per day (bpd) after extensive rehabilitation. The field is slated to increase output to 40,000 bpd as part of Libya’s broader strategy to raise national oil production to 2 million bpd by 2030. The restart follows similar revivals at the Sinawen field and the Al‑Sarir refinery, reflecting an effort to restore damaged assets and attract renewed investment from major international firms such as Chevron, Eni, BP, Shell, ExxonMobil, TotalEnergies and ConocoPhillips.