Tripoli
Libya’s upstream promise still hamstrung by instability
But the troubled north African nation is not short of international investment interest
Soon after Libyan oil minister Mohamed Oun spoke to Petroleum Economist in late September, Libya’s National Oil Corporation (NOC) signed a memorandum of understanding with Norway’s Equinor with the stated aim “to study and evaluate the oil and gas potential in the Libyan maritime region”. The deal was signed in Tripoli and included provisions to train young Libyans for the oil and gas sector. Equinor has been active in Libya for decades and holds non-operating stakes in the Murzuq Basin and the Mabruk field, where production was suspended following a 2015 militant attack. The Norwegian firm also stated that “more recently, our engagement in lifting and marketing Libyan crude oil has become a
Also in this section
4 March 2025
The US and Canada are boosting capacity builds for renewable diesel and biofuels, while Central and South American countries are investing heavily to upgrade and expand their domestic refining sectors
4 March 2025
EU net-zero polices have shifted refining investment among member states, while across the region countries and companies continue to adjust to changes in trade flows caused by the war in Ukraine
4 March 2025
Gas auctions underperform, signalling a slow start to 2025 after bumper 2024
3 March 2025
The Middle East is focusing on modernisation and expansion projects, while Africa is seeking to reduce its imports of refined products
