While Libya managed to ramp up crude output to just under 1mn b/d in 2018, continued instability clouds the country’s outlook. Gas exports to Italy are at a seven-year low but this is mainly due to a rise in domestic demand.

Libya’s NOC clocked a five-year high of $24.4bn in oil and gas revenues for 2018, a figure that could have been substantially higher if it wasn’t for intermittent outages at key fields and export terminals, mainly due to civil strife, storage capacity...