• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 4 hours Starvation, horror in Venezuela
  • 8 mins The EU Loses The Principles On Which It Was Built
  • 44 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 4 hours Crude Price going to $62.50
  • 4 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 20 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 13 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 24 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 1 day Correlation does not equal causation, but they do tend to tango on occasion
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 1 day Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day California Solar Mandate Based on False Facts
  • 1 day Monsanto hit by $289 Million for cancerous weedkiller
Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory 29th July 2016

Politics, Geopolitics & Conflict

• Libya is still struggling with the recovery of its oil industry amid a fresh spike in tensions between the national Oil Corporation, the UN-backed government and the country’s Petroleum Facilities Guard. Members of the guard have been blocking ports across the country, demanding pay they say the NOC owes them. A recent deal struck by the Government of National Accord, with the help of UN envoy Martin Kobler, and the PFG to release their hold of ports was slammed by the head of the Tripoli division of the NOC, who said any deal concerning Libya’s oil should go through the company and not the Guard. Things escalated further when an army general threatened foreign oil companies with direct fire to their vessels, should they try to ship any Libyan oil without the agreement of the Benghazi branch of the NOC. The situation in Libya is getting increasingly confusing, despite a recent ray of light when the two branches of the NOC seemed to be in agreement they should unite for the greater good. The prospects remain unclear at this point and in all likelihood oil output will remain subdued. At the end of the day, however, paying off militias for all intents and purposes, and rewarding them for hijacking the country’s oil will backfire.

• The Syrian army recaptured control of a major oil pipeline in western Syria from the control of ISIS. The victory has disabled an important financing channel from the terrorist…

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