Libya is back. After undergoing a near three-month blockade, which at its worst knocked out around three quarters of its output, Libya is once again producing at maximum capacity of around 1.2mn b/d. That’s good news for tight oil markets, but will it prove durable this time?
The answer may lie within the ostensible reason for the oil sector’s resurgence. On 14 July, long-time NOC chairman Mustafa Sanalla was forcibly removed by Tripoli-based prime minister Abdelhamid Dbeibeh. His replacement: Gaddafi’s last central bank governor Farhat Bengdara who is said to have close ties to eastern-based General Khalifa Haftar (MEES, 15 July). (CONTINUED - 1094 WORDS)
