Protecting Libya’s Oil: The First Step to Stability
In partnership with the National Oil Corporation of Libya
Recent attempts to capture the Libyan oil sector, by armed militias and political factions alike, have highlighted the fragility of the country’s economy, and the urgent need to protect Libya’s energy resources in this period of transition.
The UN-backed Libyan Political Agreement, signed in December 2015,was an important milestone to reaching a new political settlement in Libya. Nonetheless, political divisions remain and economically the country is failing, running big deficits while many families struggle to make a living. Indeed, from people smuggling to terrorism to the high rate of young men under arms, many of Libya’s headline problems are fundamentally driven by lack of economic opportunity. As the only remaining institution able to function across the country, it is more important than ever to maintain the integrity of Libya’s National Oil Corporation, and to work together to harness its potential in service of stabilisation and national regeneration.
We explored in depth various ways to protect Libya’s oil sector, and to put it to work for the country as a whole, and for its people.