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Libya Announces Reopening of Oil Facilities

October 3, 2024
Libya Announces Reopening of Oil Facilities

Libya's El Sharara oil field

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Libya’s eastern-based government announced on Thursday the reopening of oil fields and facilities following the resolution of a dispute involving the Central Bank of Libya (CBL) governor, according to government sources and local media reports.

Oil production and export operations were halted in August when the eastern government shut down oil facilities in protest of the removal of CBL governor Sadiq Kabir by the Presidential Council in Tripoli.

The dispute was resolved on Monday with the approval of a new CBL governor, Naji Mohamed Issa Belgasem, and his deputy, Mari Muftah Rahil Barrasi, by both legislative bodies—the House of Representatives in Benghazi and the High State Council in Tripoli.

The National Oil Corporation reported in late August that oil production had dropped by more than half of typical levels, though no updated production figures have been released since.

Most of Libya’s oilfields are in the east, controlled by military commander Khalifa Haftar and the Libyan National Army.

Libya’s oil output has been frequently disrupted since the country split into two administrations following the 2011 NATO-backed uprising that toppled Muammar Gaddafi.

Tags: Libyaoil production
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