Libya’s National Oil Corporation (NOC) said it generated nearly US$4 billion in revenue in May, marking its strongest monthly performance in about a decade, as the country continues efforts to stabilise output and improve oil-sector management.
NOC chairman Masoud Suleiman said the results reflected the work of technical teams who maintained production and export operations despite a challenging economic and institutional environment.
He said the performance formed part of a phased reform strategy aimed at improving efficiency across Libya’s oil sector, including changes to internal governance structures designed to speed up decision-making.
The reforms include a new internal framework expanding the authority of middle management in order to streamline operations across the corporation’s various divisions.
Oil remains Libya’s dominant source of revenue and a key pillar of state finances, making fluctuations in production and export performance critical to the country’s fiscal stability.
Suleiman said the May results underscored progress in consolidating revenues from hydrocarbons, which continue to finance public spending amid ongoing political divisions and infrastructure constraints.
He also said fuel supply levels remained sufficient to meet domestic demand, stressing that national reserves were adequate and that there was no overall shortage in the local market.
The NOC said it recorded an unprecedented level of logistics activity during May, including the chartering of 17 gasoline shipments — the highest volume ever reported in a single month.
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Despite fuel-related expenditures exceeding US$1 billion during the period, Suleiman said pressures at some fuel stations were not due to supply shortages.
Instead, he attributed distribution challenges to inefficiencies in fuel allocation systems, monitoring mechanisms and efforts to curb illegal diversion within the supply chain.
Libya’s fuel distribution network has long faced challenges linked to smuggling and weak oversight, which authorities have repeatedly sought to address through tighter controls and administrative reforms.
The oil sector remains central to Libya’s economic outlook, with production levels and export revenues closely tied to the country’s ability to maintain infrastructure, security and institutional coordination.
Analysts say sustained improvements in governance and logistics could help stabilise output and reduce volatility in revenues, although political fragmentation continues to pose risks to long-term planning.
The latest revenue figure highlights both the resilience of Libya’s oil industry and its continued dependence on hydrocarbons as the backbone of the national economy.
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Despite internal challenges, Libya remains one of Africa’s key oil producers, and its output plays a significant role in global supply dynamics, particularly amid fluctuating energy markets.
