Libya's trajectory in 2024 has been defined by a familiar narrative: a fractured nation grappling with the repercussions of a broken state, where elites compete over wealth and territorial control. The year ahead holds both the faintest glimmer of hope and the looming risk of renewed conflict.
An overview of key stories in Libya's energy sector, including oil production updates, infrastructure challenges and market trends for the week ending on Friday, Nov 8, 2024.
An overview of key stories in Libya's energy sector, including oil production updates, infrastructure challenges and market trends for the week ending on Friday, Oct 25, 2024.
In spite of turbulent political times for Libya and its energy sector, there are positive developments regarding the signing of new contracts and the continuation of small-scale works to gradually increase the country’s oil output.
Earlier this month, Mohamed Aoun was said to be reinstated as Minister of Oil & Gas. However, he has been unable to assume his duties as the acting O&G Minister Khalifa Abdulsadek continues to occupy his seat.
Despite facing strong opposition from various Libyan entities, the National Oil Corporation (NOC) is pushing ahead with its decision to develop the NC7 gas field through an international consortium led by Italy’s energy giant ENI.
This year’s conference coincides with reports of a highly anticipated new licensing round for onshore and offshore concessions –which would be the country’s first since 2005– and the NOC's ambitious plan to reach 2 million barrels of oil per day (bpd) by 2030.
The reinstatement of Libya's Minister of Oil and Gas raises questions about transparency and governance within the country's hydrocarbons sector, especially as Libya prepares for its first major licensing round in over 25 years.
There have been a number of unconfirmed reports emerging regarding non-Western International Oil Corporations being in direct contact with Benghazi-based authorities to develop the region’s vast energy resources.
Libya is increasing its engagement with foreign partners and becoming more proactive in its efforts to raise oil output in line with the National Oil Corporation's strategic vision.
The NOC Chairman's challenge is to minimise disruptions and keep Libyan oil flowing, while balancing the demands of various Libyan constituencies and mitigating interference from foreign actors pursuing their own strategic objectives.
Libya's oil and gas production has seen a gradual increase in recent months, reaching 1.24 million barrels per day (bpd) as of April 2024. However, the infrastructure remains vulnerable to various threats.
This article looks at the major developments such as relevant conferences, new policy initiatives, or field rehabilitations that took place over the last two weeks in Libya.
On April 20, a Libyan government delegation made a visit to the White House to discuss various topics, including the energy and production file.
Despite widespread opposition to a potential deal, this new development brings back the Eni-led consortium to the fold and could draw major political battles in the coming weeks.
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