Libya has historically eclipsed Nigeria as the continent’s top oil producer after surpassing Angola as Africa’s second-largest oil production in December 2020. Nigerian oil production fell to 1.23 million barrels per day (bpd) in October from 1.25 million bpd in September, according to OPEC’s latest Monthly Oil Market Report, opening the way for Libya to take over as the continent’s largest oil producer.
Libya’s production increased from 1.16 million barrels per day in September to 1.24 million barrels per day in October, with intentions to expand production even further. Mustafa Sanalla, the head of the Libyan National Oil Corporation (NOC), indicated in June 2021 that the company aims to boost oil production to 2.1 million barrels per day (bpd) and gas production to 4.1 billion cubic feet per day (cf/d) during the next four years. If set in motion, Libya will reclaim its position as a major regional producer and exporter of oil and gas.