Libya collects $202.9mn in oil royalties and taxes in November

Libya’s Ministry of Oil and Gas under the Government of National Unity said total royalties and taxes collected from oil and natural gas concession and production-sharing companies reached LYD 1.1bn ($202.9mn) in November, The Libya Observer reported on December 17, citing official data.

The ministry said royalties collected from crude oil amounted to LYD 111mn, while natural gas royalties reached LYD 9.6mn, bringing the total royalties to LYD 120.7mn. Taxes collected during the month stood at LYD 934.5mn from crude oil and LYD 44.5mn from natural gas, for a combined total of LYD 979.1mn.

Oil and gas revenues remain the backbone of Libya’s public finances, providing the main source of funding for the state budget amid ongoing political divisions and economic challenges.

In a related development, Libya is preparing to announce in early 2026 the names of companies awarded licences for oil and gas exploration, marking the country’s first licensing round in 18 years. The last tender for hydrocarbon exploration dates back to 2007–2008.

The National Oil Corporation (NOC) launched a new licensing round in March, offering more than 20 offshore and onshore blocks as part of efforts to attract major international energy companies and boost investment in the sector.

The corporation has prequalified 29 companies as operators and eight as investors after they met technical and financial criteria. Among the qualified firms are Britain’s BP (BP: LSE), US oil majors Exxon Mobil (XOM.N: NYSE) and Chevron (CVX.N: NYSE), France’s TotalEnergies (TTE.PA: Euronext Paris) and Italy’s Eni (ENI: BIT).