Libya is preparing to resume oil production after it was halted in late August due to political disputes over the leadership of the Central Bank of Libya (CBL). Engineers from the Jalu 59 and Elfeel oilfields have indicated they are waiting for instructions from the National Oil Corporation to restart operations, having used the downtime for maintenance. The disruption began when eastern authorities shut down oil facilities in protest of the removal of CBL governor Sadiq Kabir by the Presidential Council in Tripoli.
A resolution was reached this week with the appointment of Naji Mohamed Issa Belgasem as the new CBL governor and Mari Muftah Rahil Barrasi as his deputy. Their approval by both the House of Representatives in Benghazi and the High State Council in Tripoli marked a significant step toward restoring national oil production. Belgasem and Barrasi were sworn in during a televised session, signaling a potential end to the month-long disruption.
Libya’s oil industry, which is concentrated in the east under the control of military commander Khalifa Haftar, has faced frequent disruptions since the country split between rival administrations in 2014. The National Oil Corporation reported a sharp decline in production in late August, with output falling by more than half, though no new figures have been released since. Libya’s oil production has been a central issue in the country’s political instability, which has persisted since the 2011 uprising that overthrew Muammar Gaddafi.
- Tags: Central Bank, energy, Libya, oil production
