L’Egypte découvre encore un nouveau gisement de pétrole brut dans le désert occidental
#Energy #Oil #Politics #Production #LIBYA
Agence Ecofin
Friday 19 April 2024 Last update on Friday, April 19, 2024 At 8:52 AM

Mohamed Aoun, Libya's former oil minister, has been sacked over a controversy surrounding the conclusion of oil agreements and replaced by his deputy, Khalifa Abdul Sadiq, whose mission could be hampered.

Khalifa Abdul Sadiq, Libya’s new oil minister, could face challenges in the performance of his duties with direct effects on the oil industry. These are the findings of a study published on 10 April by S&P Global Platts, the independent provider of information and analysis for the energy and commodities markets.

The firm notes that the decision to appoint Khalifa Abdul Sadiq to replace Mohamed Aoun could face opposition from the former minister’s supporters, exposing oil production to disruption.

However, according to S&P Global, the arrival of Abdul Sadiq at the head of the Oil Ministry would simplify the often tense relations with the National Oil Corporation (NOC), thereby reducing the obstacles to oil agreements, the bone of contention with the former minister. It would also provide greater certainty for investors.

In recent months, the country has stepped up its appeals to investors in the oil sector in order to achieve its oil production targets, which are currently limited to around 1.2 million b/d.

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