A Libyan militia member in 2019
Libya’s armed oil industry takeover
Booming crude production has been met with international caution after the UN’s damning assessment
A devastating UN report concluding armed groups now control Libya’s oil industry has dampened enthusiasm about the country’s recent unexpected production boom. Oil output, which had languished at less than 1.2m b/d for four years, has jumped to 1.4m b/d in as many months, according to Libya’s National Oil Corporation (NOC), although the figure is questioned by analysts. Investors will likely remain cautious about Libya’s prospects after the UN Security Council’s Panel of Experts reported that militia chiefs now have senior positions in NOC, which controls Libya’s oil production. “Armed groups in Libya have achieved an unprecedented level of influence over state institutions” UN Panel o
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
