How much oil reserves are there in Libya and where are Libyan oil located?

According to bp's World Energy Statistical Review (2007), by the end of 2006, Libya's remaining proven recoverable oil reserves were 41.5 billion barrels (equivalent to 100 million tons), ranking ninth in the world and first in Africa. The remaining proven recoverable reserves of natural gas are 100 million cubic meters, ranking 21st in the world). The oil and gas fields are mainly distributed in the Siirt Basin (SIRT) in the north, with proven oil reserves accounting for 80% of Libya's total reserves and 90% of Libya's total oil production. There are 12 large and extra-large oil fields with reserves of more than 1 billion barrels.

In addition, Libyan oil has the characteristics of good oil quality, low sulfur content and low extraction cost.

Kuwait's "Torch" said on November 3** that the U.S. Energy Information Administration recently announced the latest ranking of the world's top ten countries in oil reserves, and the relevant statistics are as follows:

1. Saudi Arabia.

Proven reserves: 266.7 billion barrels.

Total daily production: 10.7 million barrels.

**Production: 9.26 million barrels per day.

Daily consumption: 2.29 million barrels.

Exports to the U.S. (2007): 1.49 million barrels.

2. Canada.

Proven reserves: 100 million barrels.

Total production: 3.35 million barrels per day.

**Production: 2.59 million barrels per day.

Daily consumption: 2.26 million barrels.

Exports to the U.S. (2007): 2.45 million barrels.

3. Iran. Proven reserves: 138.4 billion barrels.

Total daily production: 4.17 million barrels.

**Production: 4.05 million barrels per day.

Daily consumption: 1.8 million barrels.

Not exported to the United States (2007).

4. Iraq.

Proven reserves: 115 billion barrels.

Total daily production: 2.39 million barrels.

**Production of 2.38 million barrels per day.

Daily consumption: 10,000 barrels.

Exports to the United States (2007): 10,000 barrels.

5. Kuwait.

Proven reserves: 104 billion barrels.

Total daily production: 2.74 million barrels.

**Production: 2.59 million barrels per day.

The daily consumption is 10,000 barrels.

Exports to the United States (2007): 10,000 barrels.

6. United Arab Emirates.

Proven reserves: 97.8 billion barrels.

Total daily production: 3.05 million barrels.

**Production: 2.68 million barrels per day.

Daily consumption: 10,000 barrels.

Exports to the U.S. (2007): 10,000 barrels.

7. Venezuela.

Proven reserves: 100 million barrels.

Total production: 2.64 million barrels per day.

** production per day: 3.92 million barrels.

Daily consumption: 760,000 barrels.

Exports to the United States (2007): 1.36 million barrels.

8. Russia.

Proven reserves: 60 billion barrels.

Total daily production: 9.79 million barrels per day.

**Production of 9.36 million barrels per day.

Daily consumption: 2.9 million barrels.

Exports to the United States (2007): 10,000 barrels.

9. Libya.

Proven reserves: 41.5 billion barrels.

Total daily production: 1.88 million barrels per day.

**Daily production: 1.74 million barrels.

Daily consumption: 10,000 barrels.

Exports to the United States (2007): 10,000 barrels.

10. Nigeria.

Proven reserves: 36.2 billion barrels.

Total daily production: 10,000 barrels.

**Daily output: 10,000 barrels.

Daily consumption: 10,000 barrels.

The blue dot is the oil field. The red line in the upper right is opposition-controlled.

There will be no other place, on the territory of Libya!

Libya is located on the Mediterranean coast of northern Africa, bordering Egypt, Sudan, Chad, Niger, Algeria and Tunisia, and is separated by sea from southern European countries to the north. It has a land area of 1.76 million square kilometers and a coastline of 1,900 kilometers. Libya is an important oil and gas producer in North Africa that emerged in the 60s of the 20th century, and its oil and gas production is mainly exported to Europe, especially Italy, Germany and Spain.

Libya enacted the Libyan Petroleum Law in 1955 and amended it twice in 1961 and 1965. After 1978, Libya nationalized its economy through economic measures such as workers' takeover of factories, universal ownership of land, and the abolition of private traders. Since 1987, economic policies have been gradually relaxed, partner enterprises have been encouraged, and private business has been allowed.

Libya is an important oil producer in North Africa. Exports of oil and its products account for more than 95 per cent of Libya's total export value. Oil is the lifeblood and main pillar of Libya's economy.

Since the discovery of oil in the 50s of the 20th century, oil extraction has developed rapidly, and the oil refining industry has also risen rapidly. At the beginning of 2003, oil reserves stood at 29.5 billion barrels and natural gas reserves at 46.4 trillion cubic feet. When Muammar Gaddafi came to power in 1969, nationalization established state control over the operations of foreign oil companies in Libya and expanded the state's power to participate in the oil industry.

Prior to March 1986, Libya had a Libyan Ministry of Petroleum in its ** organization, which was responsible for the production and sale of oil and gas throughout Libya. In the late 80s of the 20th century, with the wave of the formation of the National Oil Company, the Libyan Ministry of Oil was abolished, and the oil and gas management was taken care of by the Libyan National Oil Company, which became the leading decision-making body for formulating policies on oil and gas, and controlled two-thirds of the country's oil production.

The turmoil in Libya has not been resolved, and it has brought great disasters to the people of this country. Now that the oil fields have resumed, the country has finally ushered in a glimmer of light. The resumption of production is of great significance, and Libya, as a major oil producer, is of vital significance to the global oil industry.

The change is a natural one. Secondly, this matter will be beneficial to the international oil price.

The quality of Libyan oil is very high, which is of great significance to the oil industry and related industries. Next, I will elaborate on the impact of this incident on the global oil industry from the above three aspects.

1. Increasing Oil Supply The amount of oil supply is directly determined by the output of the oil producing areas, so the restoration of the Libyan oil fields is of great significance to the growth of international oil supply. The region has been exporting** as its main source of income**, so it has a high level of experience in this area, and production is expected to stabilize quickly after the resumption of work. <>

Second, the direct impact of the increase in oil supply is the decline of global oil, which is equivalent to a relief in the snow for many countries with huge oil demand. Petroleum resources are very valuable, and their reserves in the world are dwindling day by day due to the continuous consumption of human beings. The resumption of oil fields in Libya will ease the pressure on people who are struggling with high oil prices.

3. Improving oil qualityDespite Libya's own turbulent situation and the country's backward industry, Libya has not been able to increase its oil production to a high level. But the quality of the country's oil is very good, which is their biggest capital. High-quality oil not only brings huge revenues to their countries, but also supplies the world with high-quality **, which can be described as killing two birds with one stone.

What other repercussions do you think this will have?

There must be an impact, and the first volume of this oil field will keep up relatively after the resumption of production, which will be of great help to the stability of oil prices. International oil prices will not rise too much.

Oil prices will definitely fall, because there will be more ****, the corresponding market competition will become larger, and the major producers will reduce prices to increase competitiveness.

It may make the price of oil **, the global oil industry more competitive, after all, the more oil, the more customers have to choose.

It is mainly found in the Siirt Basin in the north.

Libya, the world's 12th largest oil producer, produced about 1.6 million barrels per day at its peak. Libya is the country with the largest oil reserves in Africa, but more than half of its oil fields are unexplored due to lack of exploration.

The world's 12th largest oil producer, Libya accounts for 6% of the world's oil consumption, OPEC production; More than 85% are exported to Europe, the rest are mostly Asia, and the United States accounts for only 5%. Although the production is small, light low-sulfur oil is of great significance to Europe, and it is impossible for Europe to allow a country on the southern shore of the Mediterranean Sea to exist that is stuck in the neck of the Mediterranean from time to time, let alone that.