• 5 minutes Oil prices forecast
  • 8 minutes Nuclear Power Can Be Green – But At A Price
  • 11 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 16 minutes Europe Slipping into Recession?
  • 5 hours *Happy Dance* ... U.S. Shale Oil Slowdown
  • 8 hours Emissions from wear of brakes and tyres likely to be higher in supposedly clean vehicles, experts warn
  • 5 hours UK, Stay in EU, Says Tusk
  • 14 hours How Is Greenland Dealing With Climate Change?
  • 9 hours Socialists want to exorcise the O&G demon by 2030
  • 12 hours Is Natural Gas Renewable? I say yes it is.
  • 14 hours Germany: Russia Can Save INF If It Stops Violating The Treaty
  • 22 mins Algorithms Taking Over Oil Fields
  • 2 days Maritime Act of 2020 and pending carbon tax effects
  • 3 days Connection Between Climate Rules And German's No-Limit Autobahns? Strange, But It Exists
  • 10 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 21 hours Saudi Private Jet Industry Stalls After Corruption Crackdown

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



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