An economic report published by Business Insider shed light on the major oil discoveries recently announced by the National Oil Corporation in Tripoli, describing them as a clear sign of renewed activity within Libya’s oil sector after a period of decline and instability.
The report explained that the NOC’s announcement of these discoveries reflects growing interest from global companies in investing in Libya, especially amid signs of recovery in the sector, as both foreign and local companies intensify their exploration and production activities.
It also noted that Libya’s network of main oil refineries, despite its small production capacity, remains a fundamental pillar of the oil sector. The country operates five main refineries located in Zawiya, Ras Lanuf, Tobruk, Brega, and Sarir.
The report pointed out that some of these refineries — such as Ras Lanuf — face operational challenges, yet they still process the majority of crude oil, making them a central element in maintaining production stability.
The report added that refining operations in Libya represent key points for modernization and investment, emphasizing that maintaining the reliability of these refineries offers a real opportunity for sustainable growth in the oil sector, which in turn supports the national economy and attracts more international partners.
