Libyan prime minister Abdulhamid Dbeibeh
IOCs plot risky Libya return
Despite the continuing threat that the country’s security situation could implode, oil firms are keen to get going again
Italy’s Eni has started gas exploration off Libya’s northeast coast. Meanwhile, TotalEnergies and US independent ConocoPhillips have enlarged their stakes in Waha Oil—Libya’s largest joint-venture oil company—splitting evenly an 8.16pc stake previously held by exiting US producer Hess. And speculation that Shell could be returning to Libya ratcheted up at the end of November following the leak to the media of an internal briefing document. Shell pulled out of Libya in 2012, but could now revive three promising exploration sites—two in the Sirte basin and a third in the southwest—as well as solar and gas-flaring reduction projects. It is not just large IOCs that are returning. In the country
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
