Libya ranked first in Africa and ninth in the world in terms of the largest proven oil reserves in 2024, at about 50 billion barrels.
According to the global data analysis platform “Global Firepower”, Libya has advanced this year over the previous year, recording reserves of 48 billion barrels.
Nigeria came in second place in Africa with 36.9 billion barrels, followed by Algeria and Angola with 12.2 and 7.78 billion barrels respectively, while Sudan came in fifth with 5 billion barrels.
Libya first in oil production 2023
Libya also ranked first in Africa in crude oil production for the year 2023, with 1.189 million barrels per day, according to what was announced by OPEC.
According to the organization’s data, Nigeria ranked second with a production of 1.187 million barrels per day, followed by Angola with more than one million barrels.
The organization considered that Libya did not effectively exploit these huge reserves in Libya, due to political and security unrest, as the Libyan oil sector witnessed stability in 2023, with an average crude oil production of between 1.1 million barrels and 1.2 million barrels per day.
Source: Global Firepower + OPEC
2024-08-16 05:49:33