The New Resource Regionalism in North Africa and the Sahara, Les Dossiers du CERI

At the beginning of June 2013, Libyan hydrocarbons production plummeted. Prior to June, the country’s hydrocarbon sector was a post-revolutionary success story. During the 17 February Revolution against the regime of Colonel Muammar Qadhafi, oil production ceased entirely. From February to March 2011 production went from approximately 1.5 million barrels per day (mbpd) to zero barrels. However, after Tripoli fell in September 2011 and the transitional government was stood up, production almost immediately rebounded. It went from 0mbpd in December 2011 to 900,000bpd in January 2012 and then continued to push upwards, finally peaking and leveling off at slightly more than 1.5mbpd. The recovery of the sector was remarkable, but it was also critical: prior to the revolution oil exports accounted for more than 95% of Libya’s hard currency receipts and almost the entirety of the country’s GDP.