The Libya Energy and Economy Summit brought together government officials, industry executives and experts for two days of talks on jumpstarting the country’s stalled energy sector. Officials outlined plans to launch new licensing rounds for oil and gas exploration rights by the end of 2024 – the first such offering to international firms since 2007. Just last week, the country’s largest oil field at Sharara was shuttered by protests, costing 300,000 barrels per day. Bringing more stability to the oil and gas industry will be crucial for Libya’s economic dreams overall. Officials called for finding a mechanism to free up some of those assets specifically for reinvestment into the oil industry.

Source: Libya Today January 16, 2024 13:53 UTC