Libya and oil energy security case study

Libya and oil

• Libya is an OPEC country (Organization of Petroleum Exporting Countries).
• It is 9th in the world for oil resources at 3.34% of the world's oil reserves.
• It is 16th in the world for the production of oil with 2.2% of the world's production. 
• A large part of Libya's economy is based on oil.
• Exports of oil contribute to 75-90% of state revenues. 
• Libya is reliant on foreign investment to keep the oil industry active.
• Libya is largely unexplored with vast oil and gas production as only 25% of the territory has…