• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days The United States produced more crude oil than any nation, at any time.
  • 8 days e-truck insanity
  • 4 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 7 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry
Kazakhstan and Azerbaijan Strengthen Trade Ties

Kazakhstan and Azerbaijan Strengthen Trade Ties

Kazakhstan and Azerbaijan are strengthening…

Oil-Rich Libya Could Have One Government As Soon As This Month

Oil-rich Libya, torn between a UN-backed government based in Tripoli and an alternative administration and institutions in the east, could see the years-long political crisis solved this month by the creation of a single government, according to eastern strongman General Khalifa Haftar.

Haftar leads a self-styled Libyan National Army (LNA) with a base in the eastern city of Benghazi. LNA is the main opponent of the UN-backed Libyan government based in the capital Tripoli in the west.

“Libyans will have a single cabinet this month,” the English version of Arab newspaper Asharq al-Awsat quoted Haftar as saying.

This past weekend, United Nations Secretary-General António Guterres said that he was hopeful for a solution to the eight-year long conflict in Libya after a high-level meeting in Tunis.

“The UN Secretary-General acknowledged that there are difficulties, but stressed that a window of opportunity has been created by the recent historic meeting in Abu Dhabi between Libya’s Prime Minister, Faiez Serraj, and a key rival military leader, the Commander of the Libyan National Army, Khalifa Haftar,” the UN said in a statement on Saturday.

Since the toppling of Muammar Gaddafi in 2011, the division in Libya’s political landscape has resulted in frequent attacks on oil fields and infrastructure from various groups. For years, Libya has been struggling to keep its oil production above 1 million bpd, compared to 1.6 million bpd before the civil war began.

Related: Big Tech Joins Renewable Energy Buyers Alliance

Forces loyal to Haftar control the four oil ports in the so-called Oil Crescent in the east and the major oil fields there.

In February, Haftar forces took control over Sharara, the largest oil field in Libya, located in the south and capable of pumping 315,000 bpd.

In early March, the Sharara oil field returned to operations after being closed for production in December, when clashes between militant groups forced the National Oil Corporation (NOC) to declare a force majeure.

Sharara has been one of the main reasons why Libya is widely seen as a wild card in global oil price forecasts. Since it accounts for around a third of the country’s total oil output, Sharara, like the export terminals in the Oil Crescent, has become a natural target for various groups vying for power and control over Libya’s oil wealth.

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News