May 29 (Reuters) – Libya confirmed on Wednesday that the headquarters of the state energy firm would move to the volatile eastern city of Benghazi, a response to demands for more authority for the oil-rich region which may prove a headache for international companies.
BENGHAZI, Libya, May 16 (UPI) — Protesters closed the Zueitina oil refinery in eastern Libya for the second time in six months this week, the latest setback for the North African country’s troubled efforts to develop its crucial energy industry in the violent aftermath of the 2011 civil war.
[EXCERPT] Libyan Oil Minister Abdel Bari Ali al-Arousi said his country was ready to recover from civil war and take its rightful place as the powerhouse of North African energy producers. In its monthly report for May, OPEC said that Libya’s economic recovery, despite lingering violence, was “exceptionally strong” with an 80 percent increase in gross domestic product year-on-year. Arousi told delegates at last week’s offshore energy conference in Houston that his government was looking to bring investors back to a country that boasts more than 40 million barrels of oil reserves. Amid accusations that gunmen are now influencing decisions in Tripoli, international players may have an obligation to keep Libya from sinking once again.