Libyan elections were meant to be held in late December
Libya’s oil industry faces renewed turbulence
After a year of relative calm, chaos has returned to Libya with the cancellation of planned elections and the emergence of two rival prime ministers
The struggle between Libya’s sitting prime minister, Abdulhamid Dbeibeh, and the man parliament wants to replace him with, Fathi Bashagha, is likely to be protracted. Neither man seems likely to devise a cabinet acceptable to all of Libya’s armed factions, raising the possibility of a return to the civil war that was suspended by a UN-brokered ceasefire in 2020. This spells a period of uncertainty for the oil sector, as Libya’s National Oil Corporation (NOC) is caught in the country’s political battles. Elections had been set for 24 December 2021, the 70th anniversary of Libya’s independence, and were to have been the culmination of a two-year-long UN peace process. That process saw two warr
Also in this section
2 May 2025
Fast-tracking US project approvals and increased trade pressures have already changed the LNG landscape since Trump came to office, with further transformation ahead
2 May 2025
Peru’s state-owned hydrocarbons agency has launched the search for new investors for Offshore Block Z-69, a high-potential asset in the prolific Talara Basin.
2 May 2025
The scars of the Russia crisis have accelerated Europe’s push to wean itself off gas dependence as the growing globalisation of LNG becomes a double-edged sword
1 May 2025
The NOC’s dire financial situation and maturing fields have left the authorities with little choice but to reduce crude expectations
