Libya is designing an oil and gas bidding round, expected to be held in the fourth quarter of this year, that is “very attractive” for investors, a member of the National Oil Corporation’s board said. An oil blockade that year imposed by eastern Libyan military leader Khalifa Haftar cost Tripoli $6 billion in lost oil revenues. Protests by loosely affiliated local groups have also threatened to bring the country’s oil production to a standstill. Over the past few days, some groups have also threatened to shut down two oil and gas facilities near the Libyan capital Tripoli. In a separate session, Libyan Economy Minister Mohamed Al Hwej said LIA's assets frozen by sanctions overseas could be used to invest in the country’s oil sector.

Source: Libya Today January 14, 2024 15:29 UTC