(Bloomberg) – The long-serving head of Libya’s state-owned oil company, Prime Minister Abdul Hamid Debayba, has said he wants to end the standoff between two key oil officials and strengthen OPEC stability. The country’s financial lifeline.
Dbeibah’s September 14 ruling in Bloomberg effectively seeks to overturn a decision by the country’s oil minister, Mustafa Sanala, to overturn an earlier decision by the oil minister.
The August decision by Minister of Petroleum Mohamed On was based on the question of whether he went abroad without permission – a “violation” of the ministry’s policy. But the move is another example of Libya’s turbulent politics and widespread misunderstandings between rival institutions that threaten the collapse of OPEC’s raw materials.
Sanala, who has been in office since 2014, has tried to keep Enoch out of the political crisis between rival East and West rivalries. He has been a leading figure in the oil industry for many years, representing Libya at the signing of agreements with international companies and the Organization of Petroleum Exporting Countries.
Libya’s oil production is once again in danger due to political power struggles
While a United Nations-brokered agreement called for a unity government, the coalition has not yet vetted various government institutions. A.D. This is an attempt to rebuild the country that was in conflict after the ouster and assassination of longtime leader Muammar Gaddafi in 2011.
Onay, who has been in charge since the ministry was re-established in March, wants the NOK board to be replaced and Sanala removed: Debayba’s move. The formation of the Minister of Petroleum has created an administrative overlap with the ONC, which has cast doubt on who is most capable of managing the most important sector.
Over the past few months, relative political stability has resulted in an estimated 1.2 million barrels per day.
Opposition groups called for a halt to oil exports from three key terminals in the east, while others threatened to shut down production in the country’s largest sector, Sharara. That shows how easily the situation in Libya can change.
Ensuring stable oil flow is crucial for Libya’s political reconciliation and economic reconstruction efforts. Revenue from crude sales is the country’s main source of income. Cash flows, including the much-anticipated December elections, could undermine political stability.
(Exercises and updates throughout)
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