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Oil Unmoved After EIA Reports Small Crude Build

Oil Unmoved After EIA Reports Small Crude Build

Crude prices moved slightly higher…

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The ExxonMobil Papers

Two weeks ago, the prestigious…

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Editorial Dept

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Libya Attempts To Lure Oil And Gas Companies Back

Politics, Geopolitics & Conflict

Libya has officially lifted force majeure on oil and gas exploration, hoping to lure international oil companies back to E&P activities. While this decision was based on claims of an improved security situation, the fact remains that the country is a tinderbox waiting to explode - again. “NOC welcomes them to resume their work in Libya and assures them of its readiness to provide all necessary support to resume their operations, as well as assisting them in facilitating the return, along with providing a safe working environment in cooperation with the civil and military authorities of the Libyan state,” NOC said in a Dec. 5 statement. While the GNU (the government of national unity) has promised to provide support to ensure safety for E&P companies, the ability to make good on that promise will remain elusive at best. The “status quo” in this case should not be confused with security in any sense.

The protest momentum in Iran has not eased, and the sentencing of five people to hanging for killing a paramilitary member could add more fuel to this fire. The 5 death sentences were compounded by long-term prison sentences for 11 others, including three children. A total of 11 people have now been sentenced to death. This week saw nationwide strikes, with factories and shops closed in protest. In another twist, the estranged sister of Iranian Supreme Leader Ayatollah Ali Khamenei has written an open…


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