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
20 January 2026
As the global energy system undergoes its most profound transformation in a century, the need for credible leadership, practical solutions and inclusive dialogue has never been greater. In 2026, the Kingdom of Saudi Arabia will stand at the centre of this conversation as host of the 25th WPC Energy Congress in Riyadh.
20 January 2026
The Kingdom of Saudi Arabia is the host of the 25th WPC Energy Congress on 26-30 April 2026. The Ministry of Energy spoke with Petroleum Economist about the key messages and opportunities for the global energy community.
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
