🚨 BREAKING: Chevron Stakes Claim in Africa’s Biggest Oil Prize 🛢️
Chevron has won Contract Area 106 in Libya and signed an MoU with Libya’s National Oil Corporation, marking its formal return to the country after more than a decade — and with it, access to one of the world’s largest undeveloped reserves.
📍 Why Libya Matters:
• 🇱🇾 ~48 billion barrels — among Africa’s largest proven reserves
• Very low lifting costs compared with many global basins
• Tremendous under-developed upside potential
$0G Chevron isn’t just adding barrels — it’s hunting a new “next Guyana.”
$ME In Guyana, ExxonMobil went from zero to 600,000+ bpd in under a decade and is targeting 1.7 million bpd by 2030, transforming its growth and cash-flow profile. Chevron’s recent frontier moves — from Namibia to Egypt and now Libya — signal a strategic pivot into high-risk, high-upside options.
⛏️ Big geology is there.
⚖️ Political stability is not.
$MOVE But if even one of these frontier bets delivers a Guyana-scale success, it could reshape Chevron’s long-term growth outlook.
Is Libya Chevron’s boldest move yet?
#Chevron #Libya #Oil #Africa #energy