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Libya





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Libya continues to occupy first place, above Gabon, in BMI’s updated and enlarged Upstream Business Environment rating, with a comfortable margin over its nearest rival of three points. The country’s score benefits from its proven oil reserves and a region-topping oil reserves-to-production ratio (RPR). The competitive landscape features numerous non-state companies, while licensing terms are generally good. However, country risk factors undermine some of the hydrocarbons-specific strength. The country is in the middle of the league table in BMI’s Downstream Business Environment rating, with a few high scores but near-term progress up the rankings unlikely. It is ranked sixth thanks to poor country risk factors, a largely state-controlled industry and moderate oil and gas demand growth prospects.
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