Libya’s dangerous oil deal
The UN-brokered ports deal with Jadhran cannot, on its own, increase the country’s oil output. But it may worsen the conflict
MORE bearish news for oil prices seems to be coming from Libya, where a deal to reopen the country's main oil-export terminals is in place. State firm National Oil Company (NOC) talks of increasing output from around 200,000 barrels a day now to 0.9m b/d by the end of the year. It would stall any oil-market recovery. US air strikes on 1 August targeting Islamic State (IS) in Sirte should also help diminish the terror group's threat to energy installations in Libya's central oil crescent. Repeated IS attacks in the past year led NOC to impose force majeure on fields. The US involvement - at the behest of the Government of National Accord (GNA) - in tandem with the ports deal, suggests an outp
Also in this section
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
