Libya sends out warning signs
Uncertainty over the fate of Tripoli and recent statements by the government there are sending negative messages to IOCs
A shudder went through international oil companies in May when Libya's Tripoli government abruptly suspended 40 foreign companies, including Total. The announcement, via a hand-written decree from the UN-backed Government of National Accord (GNA), also named non-energy players Alcatel, Thales, Siemens and a division of Nokia. Economy minister Abdulaziz Issawi gave no reason for the decree, but diplomats see it as punishment meted out to European governments for their lack of support for the GNA in its battle for Tripoli against forces of the rival Tobruk government and its commander General Khalifa Haftar. Compounding the confusion, the GNA changed its mind hours later, saying the companies

Also in this section
6 February 2025
Policy initiatives will take time to reverse declining output, and restoring investor confidence is far from certain
6 February 2025
This premier event is poised to address the evolving technology and investment demands of North America’s thriving chemical and pharmaceutical sectors
5 February 2025
Growing appetite for LNG reinvigorates discussions between China and Myanmar, but civil war may prevent talk becoming action
5 February 2025
With new capacity, buyers must navigate sanctioned Russian crude, a return to traditional OPEC barrels and diversity of supply