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Libya is planning to push a key offshore oil and gas project led by Italian Eni and Libya’s National Oil Company (NOC) in a move that could shift some oil capabilities away from the onshore arena
The Libyan National Oil Company (NOC) has declared force majeure on another key Libyan oil field, the 300,000 bpd Al Sharara, amid protests that had shut down production at two ports and the El Feel oilfield on Sunday
Libya Economic Monitor, Spring 2021 Format EXECUTIVE SUMMARY Libya entered 2020 as a divided nation, with competing political and military factions operating redundant and often conflicting systems of governance. The Government of National Accord (GNA) controlled the country’s western regions around the capital Tripoli, while the Interim Government (IG), backed by the Libyan National Army (LNA), controlled most of the eastern, central, and southern parts of the country. The separate controlling bodies operated on separate budgets. The Central Bank of Libya was divided into parallel branches with Central Bank of Libya in Tripoli controlling the country’s money supply and foreign reserves, with the branch in the east mimicking the central bank’s currency printing function. The National Oil Corporation, based in Tripoli, is solely responsible for oil exports; but the Petroleum Facilities Guard, which secures the country’s oil assets, is divided into rival western and eastern forces.