With an area of almost 1.8 million square kilometres (700,000 sq mi), Libya is the fourth largest country in Africa by area, and the 17th largest in the world. The largest city, Tripoli, is home to 1.7 million of Libya's 6.4 million people. The three traditional parts of the country are Tripolitania, Fezzan and Cyrenaica.
Libya is a member of the Organization of Petroleum Exporting Countries (OPEC) and holds the largest proven oil reserves in Africa (followed by Nigeria and Algeria), 41.5 Gbbl (6.60×109 m3) as of January 2007, up from 39.1 Gbbl (6.22×10^9 m3) in 2006. About 80% of Libya’s proven oil reserves are located in the Sirte Basin Province, which accounts for 90% of the country’s oil output. The province ranks 13th among the world’s petroleum provinces, having known reserves of 43.1 billion barrels (6.85×10^9 m3) of oil equivalent (36.7 Gbbl (5.83×109 m3) of oil, 37.7×10^12 cu ft (1,070 km3) of gas, 0.1 Gbbl (16,000,000 m3) of natural gas liquids). The government dominates Libya's economy through control of oil resources, which account for approximately 95% of export earnings, 75% of government receipts, and over 50% of GDP, which was USD $50.2 billion in 2006. (Read more...)