Libya
Libya's oil and gas minister said Tuesday his country had a "promising future," pointing to large oil and gas reserves that he suggested could generate "enormous" wealth for the North African nation.
Speaking in the capital Tripoli, Mohammed Oun said Libya had 48 billion barrels of crude oil reserves and 52 trillion cubic feet (1.47 triillion cubic meters) of natural gas.
"We have many oil and gas discoveries that can be developed, and it is possible to open the door to foreign investments," he said.
Noting the International Energy Agency's plans to drastically reduce oil consumption and carbon emissions in the next decades, Oun stressed there was pressure on the Libyan state to "work on large projects to exploit this wealth to develop the country."
He said oil revenues, which constitute 95% of the Libya's income, should be invested in infrastructure, city development, health and education.
"The basis is for the Libyans to live a decent life, given that the oil wealth is enormous compared to the population of Libya," Oun said.
Libya's oil production is currently about 1.3 million barrels per day, and it may be increased to 1.8 million barrels per day in the coming year.
Go to video
'Electoral process badly underway', DRC civil society platform warns
00:59
Uganda starts first oil drilling operations with eye on 2025
Go to video
Nigeria: a bitter campaign before the presidential election
01:03
Uganda approves construction licence for crude pipeline to Tanzania
00:55
Libya donates basic commodities to Tunisia
01:45
Nigeria's first-time voters flock to get voting cards ahead of election