• 4 minutes Natural gas is crushing wind and solar power
  • 7 minutes OPEC and Russia could discuss emergency cuts
  • 10 minutes Peak Shale Will Send Oil Prices Sky High
  • 13 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 29 mins WTI are we seeing the perfect storm
  • 9 hours "Criticism of migration will become a criminal offense.  And media outlets that give room to criticism of migration, can be shut down." - EU Official to the Media.
  • 14 hours Cheap natural gas is making it very hard to go green
  • 56 mins On Venezuela
  • 2 hours CCP holding back virus data . . . . . . Spanish Flu 1918 MUTATED, Came back in 3 waves, Lasted 14 months and killed upward 5% World population
  • 19 hours Oil and gas producers fire back at Democratic presidential candidates.
  • 4 hours I Love Hills
  • 21 hours Saudi Aramco launches largest shale gas development outside U.S.
  • 18 hours Investments worthy in versatile and clean natural gas
  • 1 day Is Pete Buttigieg emerging as the most likely challenger to Trump?
  • 1 day CDC covid19 coverup?
Alt Text

Oil Prices In Freefall As Pandemic Fears Grow

Oil prices continued plunging for…

Editorial Dept

Editorial Dept

More Info

Premium Content

Why Did Haftar Turn Libya’s Oil Off?

Libya: Haftar Shifts Strategy from Oil ‘Protector’

Shutting off Libya’s oil was always General Khalifa Haftar’s trump card to play when the time was right. That time is now, with 800,000 bpd in exports officially off the market and the country’s entire 1.2 million bpd in production set to be shuttered in a matter of days. The Government of National Accord (GNA) will be starved to the tune of $77 million a day when that happens.

Haftar was not assured of winning a ground-based military battle against the GNA and its band of militias in Tripoli, now with Turkish troops (and Syrian mercenary) support. Haftar can cripple Tripoli with superior airpower, thanks to his external alliances, but on the ground, it would be a tough battle to gain full control of the capital - which is where all the oil revenues are. 

Haftar now has EU member Greece on his side, with Athens up in arms over Turkey’s attempt to stake territorial claims on the massive natural gas deposits in the eastern Mediterranean. The Greek PM has also vowed there will be no EU deal on Libya if Turkey refuses to rip up the maritime border agreement it recently made with Libya in a less-than-subtle offshore land grab. 

Thus, Turkey’s meddling in Libya is entirely about Cyprus, and nothing at all to do with Haftar or the GNA.

There was room for alignment of Turkish and Russian interests here, too, even though technically Russia (through mercenaries)…




Leave a comment

Leave a comment




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