Libya’s NOC Announces October Oil & Gas Output

Libya’s crude oil production reached approximately 43.47 million barrels in October 2026, according to the National Oil Corporation (NOC). The state’s share amounted to 34.61 million barrels, compared with 7.48 million barrels allocated to partners, while 6.29 million barrels were available for export by the end of the month.

The state’s share included 30.03 million barrels allocated for export, 4.29 million barrels transferred to refineries, and around 282,900 barrels supplied to power stations. Meanwhile, the average price of Brent crude stood at US$116.767 per barrel in September.

In the natural gas sector, production reached approximately 77.8 billion cubic feet, including 75.98 billion cubic feet available for consumption. Of this amount, 56.79 billion cubic feet was consumed, while 19.18 billion cubic feet consisted of low-pressure hydrocarbon gases.

Regarding revenues, oil transfers to the sovereign account at the Libyan Foreign Bank amounted to approximately US$3.12 billion in October, while royalties and taxes from concession agreements under the Ministry of Oil reached around LYD 2.69 billion (US$419.5 million).

The NOC explained that revenues collected in October from September oil exports were sufficient to cover fuel import credits through the Libyan Foreign Bank, in accordance with the approved 2026 spending agreement. The remaining balance will be transferred to the Central Bank of Libya.