Libya Tops Countries Awarding Oil & Gas Exploration Licenses in June 2026

Libya Tops countries awarding oil and gas exploration licenses in June 2026
by AbdulkaderAssadSat, 01/08/2026 - 21:08

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Libya ranked first among countries awarding oil and gas exploration licenses in June 2026, granting licenses covering estimated reserves of around 50 million barrels of oil and 832 billion cubic feet of natural gas, equivalent to approximately 82.2 million tonnes of carbon dioxide emissions if the resources are fully extracted and burned.

According to the monthly report issued by the International Institute for Sustainable Development (IISD), Libya’s latest licensing round is the country’s first since 2007, marking what the report described as a new phase for Libya’s oil and gas sector after years of stagnation. The report also noted that Libya holds the largest proven oil reserves in Africa.

The report added that Italy’s Eni and QatarEnergy secured the largest offshore concessions along Libya’s Mediterranean coast, while Libya led the six countries that awarded a total of 22 new exploration licenses during June.

It also noted that Chevron, the Turkish Petroleum Corporation (TPAO), and Eni were among the leading investors in exploration licenses awarded globally during the month, with capital investments exceeding $1 billion. Meanwhile, Libya’s licenses ranked as the projects with the highest potential carbon emissions.