Oil production and export in Libya may increase only slowly
Recently the two rival Libyan National Oil Companies (NOC), one based in the east in Bayda and the other in the west in Tripoli, have agreed to unify. This is just one small step in restoring production and exports of oil from Libya.
|The Tripoli-based NOC is the one recognized by the UN, most of the international community and the UN-backed Government of National Accord (GNA), while the Bayda-based NOC is recognized by the rival House of Representatives (HoR) based in Tobruk. The HoR has yet to recognize the GNA or vote confidence in it as required by the Libyan Political Agreement (LPA).|
“I am not convinced the announcement about the reunification of the two rival NOCs will actually deliver any increase in production any time soon." The new government is struggling to unify the various factions and Haftar and his allies “have sufficient control of infrastructure and politics in the east to prevent the GNA from broadening its mandate.”