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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    The battle over Libya's oil wealth may become more ferocious, how so?

    Rocky
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    The battle over Libya's oil wealth may become more ferocious, how so? Empty The battle over Libya's oil wealth may become more ferocious, how so?

    Post by Rocky Sat 08 Jun 2019, 8:23 am


    [size=32]The battle over Libya's oil wealth may become more ferocious, how so?

    - 1 Minute Ago
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    The battle over Libya's oil wealth may become more ferocious, how so? %D9%84%D9%8A%D8%A8%D9%8A%D8%A7-3-300x170
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    There is no sign of an end to the conflict between rival groups in Libya soon, which has been ravaging the country since the fall of Gaddafi's regime in 2011.
    Instead, the conflict has raged and escalated since the attack by retired general Khalifa Hafater on Tripoli on April 4.
    The divisions in Libya control both power and wealth in a country whose income derives almost exclusively from oil revenues, said writer Jumaa al-Qamati in his report published on the Middle East Internet site.
    As the attack on Tripoli continues, these revenues are likely to become an integral part of this conflict.
    Libya's oil reserves are estimated at 48 billion barrels, the largest in Africa and the ninth in the world.
    The recoverable oil reserves are estimated at 26 billion barrels, while oil and gas exports account for about 90 percent of Libya's revenues.
    In general, the disruption of the production or export process is likely to further reduce the country's income.
    Fierce competition 
    Libya has a typical rental economy in which the country is the main employer, paying about 1.8 million people, about a third of the total population.
    The country's lucrative oil and gas market is attracting fierce global competition, particularly among international fossil fuel companies.
    In addition, control over this vast natural resource has become a major driver of the conflict between Libyan groups competing for a share of benefits.
    In this context, the author says it is safe to ask whether any escalation of violence at the present time will lead to a broader struggle for control of Libyan oil resources.
    He pointed out that in the past various groups have tried to use the oil facilities as a bargaining chip for financial and political gains, local armed groups have closed the main ports in the oil crescent in eastern Libya between 2013 and 2016.
    In 2014, oil exports fell to less than 200,000 bpd after reaching 1.6 million bpd before the revolution. 
    The dynamics of the conflict The 
    writer stated that the revenues of oil exports are still going to the Libyan Central Bank in Tripoli, which works with the government of national reconciliation.
    For its part, the National Oil Corporation, which dominates the country's oil sector, has tried to stay away from political disputes and maintain its neutrality.
    In addition, the establishment of an unrecognized Eastern government allied to Hafar of a parallel national oil company in Benghazi - which has repeatedly tried to sell Libyan oil in the foreign market - has contributed to the complexity of the dynamics of the conflict in Libya.
    The attempts were foiled by a UN Security Council resolution banning the illegal export of crude oil.
    Militarization of oil installations 
    Recent reports indicate that Hafter is currently seeking to militarize oil facilities in the Crescent oil region, where he began to use oil ports and airfields in the war.
    In the wake of this move, the National Oil Corporation issued a statement condemning the use of its facilities for military purposes, referring to the seizure of Haftar forces at the airstrip Sidra oil port and the docking station in Ras Lanuf.
    "The recent outbreak of hostilities is a serious threat to the company's operations, production and the national economy as a whole," said Mustafa Sannallah, head of the National Oil Corporation.
    The author stressed that many sources talked about the telephone conversation conducted by President Donald Trump with Marshal Khalifa Hafer, in which "the President acknowledged the great role played by Hafter in the fight against terrorism and securing Libyan oil resources."
    This call is likely to encourage Hafar to play the oil sheet more forcefully if he fails to seize Tripoli and gain political influence.
    A portion of the sales 
    quoted the writer as quoted by a French presidential official, who pointed out that Hafer expressed his displeasure at the lack of troops to get a share of oil sales in the east of the country, not to mention that he refused to cease fire during his recent meeting with President Emmanuel Macaron in France.
    The writer said that although Hafer controls most of the oil facilities in Libya, Haftar's remarks during that visit show that he is currently seeking to get income from the Libyan oil wealth, so what is happening at the moment is an important station in the course of the conflict in Libya , In particular that Hafer is likely to seek to control Libyan oil exports and revenues.
    The author asserted that it is possible for the export hopper to try directly to the global market, and if it does not succeed, it may go to the point of stopping exports completely in the areas under its control, which would constitute a serious escalation in this war.
    Source: Middle East


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