Political row threatens Libya’s oil recovery
Tug-of-war to steer Africa’s largest oil reserves risks stalling the country’s recent upstream progress
A political power struggle for control of Libya’s oil industry has thrown it into crisis just as booming production and a civil war ceasefire had begun restoring investor confidence. The dispute is between oil minister Mohamed Oun and National Oil Corporation (NOC) chairman Mustafa Sanalla, with the minister demanding Sanalla’s suspension and the chairman refusing to go. The roots of the conflict began in March, when the Government of National Unity (GNU) took office—replacing rival, warring administrations in Tripoli and Tobruk. GNU prime minister Abdulhamid Dbeibeh revived the post of oil minister and appointed Oun, Libya’s former Opec representative. Libya has not had an oil ministry for
Also in this section
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy