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