OPEC Secretary General: Libya Has Huge Potential to Regain its Position in the Global Energy Sector

Haitham Al Ghais, the Secretary General of OPEC, emphasized Libya’s enormous potential to strongly return to the global energy scene during his participation in the Libya Energy and Economic Summit.
Al Ghais praised the ambitious plan aimed at raising oil production to two million barrels per day and natural gas production to 4 billion cubic feet, indicating that it reflects Libya’s commitment to strengthening its production within the framework of the “Highway Plan” strategy.
He pointed out the high quality of Libyan crude oil, characterized by its low sulfur content, which makes it an ideal choice for European refineries. He added that Libya’s strategic location facilitates its access to major markets, enhancing its ability to meet the growing global demand for energy.
Furthermore, Al Ghais commended the National Renewable Energy Strategy 2023-2035, considering it a crucial step towards diversifying energy sources in Libya by utilizing its abundant solar and wind resources.
He also warned of the challenges facing the global energy sector, stressing the need to increase investment in the oil industry to face the current shortage and pointing to the potential impact of new European legislation on oil-producing countries.
He concluded his speech by emphasizing that the future of the energy sector in Libya is promising, calling for intensified efforts to attract investments and restore Libya’s position as a key player in the global energy market.