Register NowThis is because of the relatively low carbon intensity and low cost of production associated with its upstream sector, according to many international oil companies and analysts. Rising insecurity since the civil war in 2011 has been one of the main concerns for international oil companies. Given the low carbon intensity on top and Libya could become a more attractive destination for many of the largest oil companies. In late-July, Pouyanne had said the average carbon intensity of TotalEnergies' entire oil portfolio was around 20 kg CO2e/b. Dag Sanner, the senior vice president of Equinor's African operations, said the carbon intensity of Libya's oil operation could be further lowered by more cooperation between the international oil companies.

Source: The North Africa Journal November 23, 2021 23:28 UTC