Libya’s rival NOCs to unite, but challenges remain
A Libyan gas plant. Many of the country’s producing facilities are in the hands of militia groups. (Wintershall)
Libya’s rival eastern and western NOCs agreed to unite earlier this month. The move will not affect gas production as the eastern NOC does not export the fuel, but it may speed up progress on amendments to Libya’s petroleum law – affecting incentives for future oil and gas output.
The new combined NOC can now finalise its proposals ready for ratification as soon as the political situation allows, said Hadi Belazi, director of oil services company Petro Libya. "We’ve lost so much time already, we don’t want to lose any more," he said.