Libya starts the year on an uncertain note
A cancelled poll and strikes cast a shadow over the North African producer’s 2022 ambitions
Libya’s hopes of a happy new year have been hit by several late-December roadblocks, which threaten to further erode already shaky confidence among both existing and potential new international investors. Strikers from the Petroleum Facilities Guard, a government force, towards the end of last month shut down four west Libyan oilfields—Sharara, the country’s biggest field, El Feel, Hamada and Al-Wafa. State-owned NOC subsequently declared force majeure for two western oil terminals, Melittah and Zawiyah. The nearby Wafa gas field, Libya’s largest and a major supplier of volumes to the Greenstream pipeline to Italy, remains unaffected by the industrial action. The strikers say the shutdown
Also in this section
25 April 2024
Some companies with assets in Israel have turned towards Egypt as tensions escalate, but others are holding firm despite rising tensions
24 April 2024
But even planned exploration activity is unlikely to reverse declining output from mature fields
23 April 2024
Cheaper Russian barrels and lower overall crude prices have helped cut key oil consumer’s import bills in election year
22 April 2024
Pursuing three different goals as part of the same package may mean achieving none of them