Libya NOC Reports Weekly Oil and Gas Consumption
Libya’s state oil company said the country consumed 109,792 barrels of crude and just over 8 billion cubic feet of natural gas in a single week, a snapshot of how domestic demand is absorbing more of the North African producer’s output even as export revenues remain under pressure from a fuel crisis.
The figures, covering Sept. 13 to Sept. 19, underscore the economic cost of Libya’s energy imbalance: fuel burned at home is fuel not sold abroad. That matters because oil exports are still Libya’s main source of hard currency, and any diversion toward local consumption tightens the pool available for overseas sales, squeezing government finances and widening pressure on a sector already vulnerable to outages and logistics bottlenecks.
The National Oil Corporation said electricity plants accounted for the bulk of gas use, drawing 7.024 billion cubic feet out of the week’s total 8.024 billion cubic feet. Industrial complexes used 425.009 million cubic feet, NOC-linked entities 510 million cubic feet and cement plants 71.007 million cubic feet, while local distribution of petroleum products included 28,652 metric tons of heavy fuel oil and 49,043 metric tons of diesel.
For investors, the main takeaway is that Libya remains a supply-risk market, not a stable exporter. Persistent domestic consumption, weak infrastructure and the threat of force majeure keep a risk premium in crude benchmarks and support producers and service companies outside Libya that can benefit when Libyan barrels are unreliable.
The latest week of consumption data also highlights how heavily Libya’s power system depends on gas, making electricity generation a key swing factor for domestic fuel demand. That leaves the country caught between higher local usage and the need to preserve exports, a tension that can quickly spill into broader oil-market volatility.
Traders will keep watching for any further disruptions to Libyan output, export terminals or fuel distribution, especially as geopolitical instability in the region continues to shape supply expectations.
| Entity | Gains | Losses |
|---|---|---|
| Libya’s power plants | ▲More gas supply | ▼None from the fuel data |
| Foreign crude buyers | ▲Higher supply risk premium | ▼More uncertainty over Libyan barrels |
| Libya’s state finances | ▲None from this trend | ▼Export revenue from diverted fuel use |
| Rival oil exporters | ▲Potential demand for substitute barrels | ▼None from stable Libyan supply |