Libya’s oil caught in the middle
Instability continues to derail oil authorities’ attempts to persuade IOCs to return
Libya’s much-heralded oil exploration venture involving BP and Italy’s Eni has been delayed, the latest casualty of a worsening civil war and erratic behaviour by the country’s rival governments. The venture was announced in October last year and was predicted to kick-start exploration which had halted earlier this decade; but 12 months on, the two companies have shelved plans to deploy rigs. Libya’s National Oil Corporation (NOC) is also facing trouble from both the country’s warring governments, with its chairman Mustafa Sanallah warning that the company faces possible break-up. When the BP-Eni deal was announced, it was heralded as a return to exploration for international oil companies (
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
