• 6 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 11 minutes Can the World Survive without Saudi Oil?
  • 15 minutes Saudis Pull Hyperloop Funding As Branson Temporarily Cuts Ties With The Kingdom
  • 37 mins WTI @ $75.75, headed for $64 - 67
  • 4 hours Uber IPO Proposals Value Company at $120 Billion
  • 2 hours The Dirt on Clean Electric Cars
  • 52 mins Trump vs. MbS
  • 11 hours Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 3 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 8 hours COLORADO FOCUS: Stocks to Watch Prior to Midterms
  • 11 hours EU to Splash Billions on Battery Factories
  • 11 hours UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
  • 5 hours U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 37 mins Poland signs 20-year deal on U.S. LNG supplies
  • 6 mins Coal remains a major source of power in Europe.
  • 8 hours Nopec Sherman act legislation
Alt Text

Venezuela Has Officially Launched Its Oil-Backed Cryptocurrency

Venezuela has officially launched its…

Alt Text

Are Energy Majors Under Threat From Big Tech?

Audi and Amazon have teamed…

Alt Text

Carbon Pricing Won't Kill Big Oil

Big oil has agreed to…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory May 6th 2016

Politics, Geopolitics & Conflict

• Libya is facing an intensified threat to its oil as east and west continue in a standoff over control of the country’s oil wealth following the east’s thwarted attempt at unilaterally exporting. There is now talk that Libya’s production could fall by 120,000 barrels per day as this battle intensifies. The problem here is that the West has taken the stance that the Unity government (the Government of National Accord, GNA) is the only way out of the Libyan chaos. It hasn’t been approached very adeptly, however. The GNA showed up in Tripoli and got help from armed factions that the internationally recognized government (until recently) finds a bit intimidating. The eastern government in Benghazi is now concerned that it will be sidelined—and rightly so; hence the attempt to export oil unilaterally and gain some leverage. And it is not impossible for them to gain this leverage. While it’s the Tripoli-based National Oil Company that has run things since Gaddafi’s fall in 2011, if the newly established Benghazi National Oil Company manages to makes its own oil money, it will indicate that it can survive on its own, and this would be a break-up of the country and a full-fledged civil war, which ISIS would absolutely love. The eastern government will not sign off on the GNA at this point—at least not until they are sure they can’t gain enough leverage to get back into the game.

•…

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