GROUP 4(LIBYA)

Richmond Anim-Dankwah
Bernard Gyebi
Timothy Naakureh
Erica Owusu
Bernard Picton Odoom
Randy K. Agyeman
ORDER OF PRESENTATION
• HISTORY
• MAJOR PLAYERS
• RESERVES
• STATISTICS
• CURRENT STATE & CHANGES
HISTORY
• Situated in the north of Africa, and sharing a border to the west with fellow OPEC
Member Country Algeria, Libya is the 16th largest country in the world.

• Apart from petroleum, Libya's other natural resources are natural gas and
gypsum. Its economy depends primarily on the oil sector, which represents over
95 per cent of export earnings. Moreover, the oil and gas sector accounts for
about 60 per cent of total GDP. The country joined OPEC in 1962.

• Libya has attracted hydrocarbon exploration since 1956, when the first wildcat oil
well was drilled onshore in the Sirte Basin. Libya granted multiple concessions to
Esso, Mobil, Texas Gulf, and others, resulting in major oil discoveries by 1959.
• However, the natural gas industry mainly began in 1970.
MAJOR PLAYERS
• Libya National Oil Corporation (NOC) owns and operates several refining facilities,
in addition to many oil and natural gas processing companies. Close to 380,000
bbl/d (60,000 m3/d) of crude is refined by NOCs subsidiaries.
• Approximately 60% of refined products are exported, primarily to Europe

• Refinery Capacity Operator

• Zawia Refinery 120,000 ZOC
• Ra's Lanuf Refinery 220,000 RLOGPC
• Brega Refinery 10,000 SOC
• Tobruk Refinery 20,000 Agoco
• Sarir Refinery 10,000 Agoco
RESERVES
STATISTICS
 Libya produced an estimated 562 billion cubic feet (Bcf) of dry
natural gas in 2009, one third of which is domestically consumed.
Libya exports the remainder of its natural gas.
 Libya became a liquefied natural gas (LNG) exporter in 1971, the
second country in the world to export LNG after Algeria.
 Natural gas exports to Europe have grown considerably since 2004
through the 370-mile underwater Greenstream natural gas pipeline
that runs from Melitah, Libya to Gela, Sicily. From Sicily, the natural
gas flows to the Italian mainland.
 All Libyan natural gas exports go to Europe. In 2009, Libya exported
349 Bcf, the vast majority by pipeline, with a small volume exported
in the form of LNG.
 Libyan natural gas accounted for 13% of total Italian gas imports in
the first 11 months of 2010, the top destination country, according
to the International Energy Agency
CURRENT STATE AND CHANGES
• As with oil, Libya’s natural gas
production was almost entirely
shut in for sustained periods in
2011.
• Dry natural gas production
averaged 277 Bcf in 2011, more
than a 50% drop from the previous
year.
• Natural gas production soon
recovered to an average of 431 Bcf
in 2012 and stayed relatively
unchanged in 2013 and 2014.
REFERENCES
• Opec.org, (2017), organization of petroleum exporting countries
official website. [Online] Available at: http//www.opec.org/ [Accessed
12/02/18]
• wikipedia.org, (2018), Wikipedia official site. [Online] Available at:
http//www.Wikipedia.org/ [Accessed 12/02/18]
• bunkerportsnews.com, (2018), Bunker port news worldwide official
website. [Online] Available at: http//www.bunkerportsnews.com/
[Accessed 12/02/18]
• U.S energy information administration, BP statistical review of world
energy, (2015).