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Global Energy Advisory January 6th 2017

Politics, Geopolitics & Conflict

• In Libya, the Deputy Prime Minister of the UN-backed Government of National Accord has handed in his resignation. Musa al-Koni told media that the GNA has proved unable to handle the numerous challenges Libya has to deal with, from widespread violence to lack of adequate healthcare. Al-Koni added that he considers the GNA responsible for the violence that has been tearing the country apart in the past year and that he acknowledges its failure to solve them. The resignation is indicative of how difficult it continues to be for Libya’s authorities to establish control over the civil war-torn country and steer it on the way to normalcy.

But it’s been a busy week for Libya all around, and for now it looks like General Haftar, leader of the Libyan National Army (LNA) is poised to continue solidifying power. Since taking back the country’s oil and then handing it over to the appropriate National Oil Company (NOC) earlier this year, Libya has been re-opening export terminals that have been shut down for more than two years and ramping up production just as OPEC agrees to cuts that exempt the North African nation. Earlier this week, Libya announced that it had reached production of close to 700,000 barrels per day and is eyeing 900,000 bpd over the next few months, with a hoped-for 1 million barrels by year’s end. At the same time, it’s also preparing to re-open the last remaining port that was shut…

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