IS Unlikely to Gain Control of Libya's Oil

IS is unlikely to gain control of Libya’s oil, according to Martijn Murphy, Wood Mackenzie’s research manager for North African upstream oil and gas.

“There’s little prospect of IS gaining control of Libya’s oil,” Murphy told Rigzone.

“The attacks in January this year, at As Sidra and Ra’s Lanuf, demonstrated more I think the strategies about destroying Libya’s export capacity and increasingly depriving the central bank of export revenues, rather than seeking to control the ports and export crude, which I think would be a non-starter. Nor do they have the military capability to gain control of the ports since the Libyan national army, or the remnants of it, and militias allied in the east, have air power which they can call upon,” he added.

Libya’s oil production has been severely impacted since 2014, with Murphy revealing that output in the country has been stuck at around 300,000 to 400,000 barrels per day for most of the past two years, which equates to roughly one quarter of Libya’s pre-2011 levels.

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at andreas.exarheas@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Andreas Exarheas
Assistant European Editor | Rigzone
 -  Modest Recovery Within UK Upstream Sec... (Jan 17)
 -  Ideal Employer Survey: Africa Values S... (Jan 16)
 -  UK Government Urged to Block Ship-to-S... (Jan 16)
 -  Aker BP Positioned for Further Growth (Jan 16)
 -  Aker Solutions May Axe up to 650 Jobs (Jan 12)


Most Popular Articles

From the Career Center
Jobs that may interest you
Senior Revenue Accounting Specialist
Expertise: Accounting
Location: Houston, TX
 
Wind Site Manager - Operations & Maintenance
Expertise: Operations Management
Location: Vermont, VT
 
Switchgear Systems Service Manager - Power Distribution
Expertise: Operations Management
Location: Nashville, TN
 
search for more jobs

Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
Natural Gas : $3.41/MMBtu 0.29%
Updated in last 24 hours