Around a quarter of the oil Italy consumes comes from Libya. But many other countries are reliant on Libyan oil resources
Political strife in Libya is affecting the country’s energy production.
The countries most exposed to a drop off in Libyan oil exports are Italy, France, Austria, Portugal and Ireland.
All of these countries rely on Libyan oil exports for a significant portion of their energy needs, according to political risk consultants Stratfor.
Almost a quarter (24%) of the oil that Italy consumes comes from Libya. The figure is slightly lower for France (10%), Austria (12%), Portugal (11%) and Ireland (13%), according to Stratfor.
Most of Libya’s oil and gas reserves are on-shore, while this reduces production costs it also increases the change of disruption due to civil unrest.
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Read more: Libya risk outlook