The geopolitical crisis in Libya after the collapse of the power structure in 2011 is, rather than being the result of an institutional vacuum resulting from the fall of the previous political system, the result of a process in which geographical sources of power have become centers of competition between domestic and foreign actors in the context of weakening territorial authority. With the aim of explaining the mechanism of transforming geographical capacities into factors of crisis reproduction, the present study examines the developments in Libya from 2011 to the first half of 2026 based on the link between geographical sources of power, the arrangement of actors, multi-level relations, and the strategies of actors. The study is explanatory in nature and has a qualitative approach, using a case study strategy and directional content analysis, and its data have been collected and analyzed from scientific sources, political documents, reports of international organizations, and spatial data. The findings show that the concentration of oil reserves, energy export infrastructure, Mediterranean location, and communication networks, in the face of a weak state, have transformed from potential sources of national power into tools for control and bargaining between conflicting actors, such that control over oil fields, ports, and border routes has provided groups with the ability to influence income distribution and political legitimacy. The proliferation of power centers and the formation of external support networks, along with the interdependence between official institutions and local armed forces, have prevented geographical resources from becoming a platform for state stabilization and have turned these capacities into points of continued competition.