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
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive