Libya launches first major licensing round in 17 years, drawing Repsol, Eni and QatarEnergy

Libya’s National Oil Corporation has completed the first 2025 tender for oil and gas blocks, signing agreements with companies including Repsol, Eni and QatarEnergy in the country’s first major licensing push in 17 years. Output is running at 1.4 million bpd, a 10-year high, and officials are targeting 1.6 million bpd by year-end. Italy, Greece, Spain, Turkey, as well as Egypt, Tunisia and Nigeria have recently expanded or resumed purchases of Libyan crude. Despite the east-west political split and risks around revenue diversion, an April unified budget framework allowed both sides to share oil income, supporting near-term supply stability.