Libya: fourth largest oil producer in Africa

TRIPOLI – Libya, a member of the Organization of Petroleum Exporting Countries (OPEC) is the fourth largest oil producer in Africa after Nigeria, Algeria and Angola, with nearly 1.8 million barrels per day and has reserves estimated at 42 billion barrels.

On arrival in power of Colonel Gaddafi in 1969, oil companies, mainly American, extracted from Libyan soil more than 2 million barrels per day. But soon, the Libyan leader nationalized the oil production limit, and creates the National Oil Company…read more

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