• 6 minutes U.S. Shale Oil Debt: Deep the Denial
  • 12 minutes Knoema: Crude Oil Price Forecast: 2018, 2019 and Long Term to 2030
  • 17 minutes WTI @ $75.75, headed for $64 - 67
  • 2 hours Trump vs. MbS
  • 41 mins Nuclear Pact/Cold War: Moscow Wants U.S. To Explain Planned Exit From Arms Treaty
  • 3 hours Why I Think Natural Gas is the Logical Future of Energy
  • 3 hours Merkel Aims To Ward Off Diesel Car Ban In Germany
  • 30 mins A $2 Trillion Saudi Aramco IPO Keeps Getting Less Realistic
  • 8 hours Get on Those Bicycles to Save the World
  • 14 hours Can “Renewables” Dent the World’s need for Electricity?
  • 1 day The Dirt on Clean Electric Cars
  • 14 hours Satellite Moons to Replace Streetlamps?!
  • 1 day Owning stocks long-term low risk?
  • 5 hours Long-Awaited Slowdown in China Exports Still Isn’t Happening
  • 17 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 8 hours Can the World Survive without Saudi Oil?
Alt Text

Oil Market Loses Its Bullish Edge

Bullish sentiment has dominated oil…

Alt Text

U.S. And Europe Divided On The Future Of Oil

Oil majors in Europe and…

Alt Text

China’s CNPC Boosts Global Oil, Gas Ties

China National Petroleum Corporation (CNPC)…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory May 12th 2017

Politics, Geopolitics & Conflict

• Tensions between Libya’s Presidential Council (PC) and the National Oil Corporation (NOC) are growing. The PC, which presently functions (that could change any day) as the head of state and military, and which is responsible for selecting members of the government, is ostensibly in control of investment decisions concerning Libyan oil. It was given this power via a resolution passed earlier this year. But the cracks in this set-up are already showing. The NOC is now accusing the PC of using the resolution to give German Wintershall a free pass in terms of compliance terms that it had agreed to with the NOC back in 2010. The NOC is now saying that the PC’s liberal stance on Wintershall is costing Libya $250 million because the dispute between the NOC and Wintershall has led to the shutdown of 160,000 bpd in production capacity. So, what does this mean for Libya? For the moment, production continues to rise. It’s now jumped to 780,000 bpd for the first time since 2014. And while elsewhere such a dispute might not rock any serious boats, in Libya this is the stuff of bloody changes in power. The NOC and PC are only hanging on to a modicum of control in the face of numerous militia factions that shift alliances with the wind. If the PC refuses to meet the NOC’s demand to revoke the resolution that gave it control over investment decisions, we could very easily see another shift in power in Libya. The NOC…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News