Division in Libya slows production
Libya’s Zueitina terminal has been shut again amid an effort by the east to wrest control of the country’s crude-export revenue
National Oil Company (NOC) declared force majeure at the port on 5 November after the Petroleum Facilities Guard (PFG), ostensibly under the control of the Baida-based government, prevented a tanker from loading. Oil production slumped by about 70,000 barrels a day (b/d) to 375,000 b/d, as fields linked to Zueitina were shut in. The PFG, which is charged with protecting Libya’s energy installations, told crude buyers they must now register with the Baida branch of NOC, a rival to the established Tripoli-based NOC, and pay money into a new account in Cairo. If successful, the move would deny crucial income to the Central Bank and official NOC, decimate Tripoli’s budget and risk a profound fra
Also in this section
17 January 2025
Supply glut or supply deficit are both plausible outlooks, with tariffs and sanctions among the key risks that could swing the pendulum
17 January 2025
European Commission is on its way to meeting clean energy goals, but energy security concerns and higher costs may give it second thoughts
17 January 2025
The CEO of QatarEnergy has highlighted the potential impact a new EU directive could have on energy exports to the continent
16 January 2025
The government’s resource nationalism is aggravating the NOC’s debt position and could yet worsen if also tasked with the decarbonisation shift
