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Country Report Libya Product Image

Country Report Libya

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

The official government of the prime minister, Abdullah al-Thinni, is seeking to create a new headquarter for the state-owned National Oil Corporation (NOC) in the east-as part of a strategy to take the NOC eastwards.

The move is an escalation by Mr Thinni who is seeking to take the NOC out of the clutches of the rival Islamist-dominated National Salvation Government in Tripoli. The battle for legitimacy between rival governments in Tripoli, in the western region, and in Bayda in the east of Libya is increasingly being played out in the oil sector, where both sides are attempting to assert control of the NOC. Al Mabrouk Bou Seif-the choice of Bayda-was announced as the new head of the NOC, hours before the recent OPEC meeting in Vienna on November 27th.

Moving the NOC's operations to the east has been on the national political agenda since at least late 2013. A former oil minister, Abdulbari al-Arusi, had talked back in October 2013 about moving either the upstream or downstream divisions to Benghazi, the centre of the eastern region. Long-neglected by Colonel Muammar Qadhafi, the lack of economic development in the oil-rich east was part of the reason behind the 11-month blockade of oil ports that began in August 2013 by the self-declared Political Bureau of Cyrenaica (PBC), a secessionist movement in the east.

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Country Report Libya

Battle over oil revenue intensifies
Impact on the forecast

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Note: Product cover images may vary from those shown


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