Libya’s enduring calamity
A new unity government seems destined to deliver neither unity nor government
Libya now has a third government – and it is about to enter the fray. The UN hopes it will restore stability to the country, but it may worsen the chaos. Either way, oil production – now at a five-year low of less than 300,000 barrels a day – is unlikely to recover soon. Islamic State (IS), thriving on the political disorder, has closed in on Libya’s last remaining onshore oil producers. Tired of waiting for the Tobruk-based House of Representatives (HoR) to endorse a unity government, the UN, US and EU in mid-March officially recognised a new government of national accord (GNA). Libyan opponents immediately dismissed it as a “foreign imposition”. The UN’s GNA gambit is risky. A 17 December
Also in this section
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results