Libya’s New Government: What Will It Mean For Oil?

12 Mar 2021 Issue: 64 / 10 By: Aydin Calik

The new unity government bodes well for the continuation of Libya’s recent output gains. But the appointment of an oil minister for the first time in years raises important questions about the sector’s leadership, as well as its future.

In a remarkable turnaround for the war-torn country, Libya’s divided parliament approved PM-designate Abdulhamid Dbeibeh’s Government of National Unity (GNU) on 10 March. And in a huge boost to its viability, the two rival governments in the east and west have pledged to hand over power to the GNU which is set to be sworn in on 14 March.

That Libya has gone from war to a unified government in just eight months is an incredible achievement. Even allegations of corruption in the selection process haven’t stopped it. But the GNU’s remit is daunting. It is charged with guiding the country to elections in December, reunifying state institutions and ensuring the delivery of public services such as electricity and water (MEES, 12 February). (CONTINUED - 1056 WORDS)