Libya records historic oil and gas production in February 2026

Libya achieved a record high in oil and gas production in February 2026, according to a March 11 statement from the state-owned National Oil Corporation (NOC), cited by Al Ain. 

The total oil production for the month reached 36,039,788 barrels, with the Libyan state's share amounting to 29,292,478 barrels, while 8,269,798 barrels were allocated to the company’s partners.

Exports of crude oil in February totalled 26,109,367 barrels, with 2,829,405 barrels directed to local refineries and 353,706 barrels supplied to power stations in Obari and Mellitah. The NOC also noted a significant stockpile of crude oil available for export, totalling 6,407,639 barrels, including new production and previously stockpiled crude.

The average Brent crude oil price for the month was $68.90 per barrel, contributing to total revenue of $1.81bn in February, along with LYD 1.947bn ($300mn) from oil sales, royalties, and taxes.

The NOC said natural gas production stood at 68.923bn cubic feet, with 65.174bn cubic feet available for consumption. Of this, 47.248bn cubic feet were used domestically, and the remainder consisted of acid gases and low-pressure hydrocarbons.

The NOC also provided updates on fuel stocks, with various ports including Tripoli, Benghazi, and Misrata showing significant reserves of gasoline, diesel, and gas. Despite financial challenges, NOC continues to operate efficiently, maintaining a stable production rate.