Industry Trend

Euro Majors Still Drawn to Fragile Libya

Copyright © 2023 Energy Intelligence Group All rights reserved. Unauthorized access or electronic forwarding, even for internal use, is prohibited.

Libya’s political stability remains precarious ahead of UN-backed presidential elections this month, with foreign powers still backing their proxies and foreign mercenaries strewn across the country. Remarkably, this has not prevented European major oil companies from doubling down on hydrocarbon investments in Libya and moving into supporting renewable energy developments there. This is because Libya is evolving into a new opportunity amid the energy transition — one that combines low-cost hydrocarbons with vast solar potential, allowing companies to reduce their Scope 1 and 2 (operational) emissions while ensuring revenues flow to their transitioning businesses.

Conventional Oil and Gas, Upstream Licensing, Renewable Electricity , Low-Carbon Policy
Wanda Ad #2 (article footer)
India's leading oil companies have a lot of work ahead to translate broadly government mandate-driven directives into real-world decarbonization investments, but near-term plans are coming into view.
Tue, Sep 26, 2023
The move will revert ownership of the block to small independents Ratio Guyana and Cataleya Energy, with Ratio expected to take over operatorship.
Fri, Sep 29, 2023
Companies are not indifferent to Indonesia's large resources and recent efforts to improve its business climate, but time is still needed to fully convince changes will stick.
Mon, Sep 25, 2023