Tripoli, Libya
US tries to ease Libyan tension
The Biden regime is back in the global policeman role as it tries to keep oil flows up
The US has waded into Libya’s latest wave of oil shutdowns—which have almost halved oil production—by proposing an ambitious new financing system to try to separate hydrocarbon revenues from politics. Washington’s move comes as protesters, backed by the Libyan National Army (LNA) of Khalifa Haftar, have forced several ports and fields to close. It is the most serious shutdown since a nine-month oil blockade by the LNA in 2020. Libya’s National Oil Corporation (NOC) has declared force majeure on two shut-in fields, Sharara and El-Feel, and two oil terminals, Brega and Zueitina. In addition, NOC has closed some fields serving Zueitina. NOC says the shutdowns have cut production by 550,000bl/d
Also in this section
3 January 2025
Supporters of the LNG industry need to concentrate on the areas with the most potential before the sector runs out of time to make its mark
2 January 2025
A renewed push for oil and gas production in the US combined with a continued focus on decarbonisation are just two of the trends to look out for in the coming year
2 January 2025
The climate narrative has centred on phasing out fossil fuels in favour of renewables and novel solutions, but increasingly, policymakers are realising the importance of hydrocarbons as an enabler of the transition
2 January 2025
Global population growth is leading to ever-rising demand for reliable and affordable energy, a need gas is perfectly placed to meet
