Libya reopens its upstream licensing to global oil majors, potentially boosting its crude supply and attracting fresh investmentExecutive summary: Libya’s National Oil Corporation formally signed exploration and production-sharing agreements from its 2025 licensing round, marking the first licensing round in 17 years and inviting major oil companies to explore. The licensing could increase Libya’s crude output, influence global oil supply, and attract renewed foreign investment while signaling a geopolitical shift in the region. Libya's National Oil Corporation, global oil majors, United States policymakers, and potential private investors. Companies will pursue appraisal and development phases; licensing terms will be finalized; Libyan crude exports may rise in the medium term.Libya’s National Oil Corporation announced that it has formally signed exploration and production-sharing agreements from its 2025 licensing round, the first such round in 17 years. The move could increase Libya’s export capacity and offers multinational oil companies the opportunity to develop new fields. The development is being watched closely as it may affect global oil market dynamics and U.S. policy toward the region.Connected developmentsOil Flows Resume Through Hormuz Amid Insurer CautionCrude Slides Nearly 9% as Iranian Oil Returns to MarketEscalating Iran‑Israel Conflict Raises Regional RisksOpen the full case file on Beyond →
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