On the expansion of digital payment methods and the modernisation of national payment services How is the CBL addressing structural imbalances in foreign reserves amid oil price volatility? NAJI ISSA BELGASEM: The CBL continues to confront structural vulnerabilities arising from the country’s reliance on oil revenue, which remains sensitive to global price movements. Recent strength in global…
Following the hosting of the Libya Energy & Economic Summit in Tripoli from January 24 to 26, 2026, the country stands at a critical point in its economic rehabilitation. While the broader political environment is characterised by institutional duality, the energy sector has become relatively stable. Production levels have shown resilience, reaching approximately 1.38m barrels…
Libya’s public finances have long been characterised by institutional division with authorities in the east and west of the country pursuing separate budgets and development agendas. This fragmentation had previously fuelled inflation and widened hard currency deficits. In November 2025 the Libyan House of Representatives and the Tripoli-based High State Council signed the agreement on the…
On scaling up production capacity What are the prospects for scaling up oil production, and in what ways has the sector maintained stability amid persistent challenges? PEDRO RIBEIRO: Despite headwinds, national production has remained relatively steady at around 1.3-1.4m barrels per day (bpd), highlighting both the strength of the hydrocarbon base and the adaptability of operators working…
On rebuilding legacy assets and advancing transition goals How would you characterise the current trajectory and outlook of the hydrocarbons sector? MASOUD SULEMAN MOUSA : The hydrocarbons sector is undergoing a revival, marked by rising international investor confidence and reforms. The first licensing round since 2008 – under the fourth exploration and production sharing agreement…
On boosting penetration and the diversification of Libya’s insurance portfolio To what extent can foreign investment and international expertise help advance the development of Libya’s insurance sector? ALRAGAE: Foreign participation can serve as a key catalyst for the sector’s growth. Libya’s insurance market stands to benefit significantly from international investment– especially…
In this Global Platform video, Naser Gadad, General Manager, AlSahl Group Holding, talks about the factors driving Libya’s economic progress. The country’s recovery is gaining momentum, supported by rising oil production and political stability. Growth is expected across six key sectors, with the private sector playing a vital role in diversification and job creation. Construction is crucial
On rebuilding investor confidence and supporting diversification What is the outlook for renewed British engagement in Libya’s reconstruction, particularly in energy, infrastructure and education? PETER MILLETT: The recent launch of a bidding round for 22 new oil and gas concessions – split between onshore and offshore blocks – has reaffirmed Libya’s ambition to reinvigorate…
On cleaner energy, sustainability and Libya's energy roadmap What technical and operational measures are key to achieving 2m barrels per day (bdp) by 2030? M. KHALIFA ABDULSADEK: Libya’s production trajectory reflects both its historical capacity and the challenges faced in recent decades. At its peak in the early 1970s, output exceeded 3m bpd, but successive non-technical disruptions—including…
On the role of sovereign wealth funds in encouraging foreign direct investment and good governance Why is governance so central to the success of sovereign wealth fund investment? ALI MAHMOUD: Good governance minimises risk and ensures that no one individual can sway the trajectory of the fund. We view governance as the cornerstone of long-term success. It allows sovereign funds to serve…
