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Country Report Libya Product Image

Country Report Libya

  • ID: 2101513
  • November 2014
  • Region: Libya
  • 25 Pages
  • The Economist Intelligence Unit

Islamist-linked militias from the western city of Misurata have taken over two major western oilfields.

The recent events suggest that steady gains in oil production since April could be easily reversed by persistent attacks and insecurity. The Al Sharara oilfield was forced to shut down on November 5th, after it was seized by rebels belonging to the Libya Dawn militia, which is opposed to the official government of Abdullah al-Thinni and allied to the rival government of Omar al-Hassi. This is the first time that government of Mr Hassi, whose support base is the General National Congress (GNC) and who is based in the capital, Tripoli, has attempted to take direct control of Libyan oil production.

As a result of the raid, National Oil Corporation (NOC) workers withdrew from the 340,000-barrel/day (b/d) field, which the company operates with Spain's Repsol. Workers were also forced to halt output at the neighbouring 130,000-b/d Al Feel field, which is operated by NOC and Italy's Eni.

Country Report Libya

Islamist militias wrest control of major western oilfield
Event
Analysis
Impact on the forecast

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