Libya's trajectory in 2024 has been defined by a familiar narrative: a fractured nation grappling with the repercussions of a broken state, where elites compete over wealth and territorial control. The year ahead holds both the faintest glimmer of hope and the looming risk of renewed conflict.
On August 18, the Presidential Council reshuffled Libya's Central Bank leadership, ousting Sadiq al-Kabir amid rising tensions. This article provides a quick recap on what happened.
Libya faces looming macroeconomic shocks as the Central Bank crisis deepens, risking social unrest amid rising prices and unstable infrastructure. With political divisions stalling solutions, ordinary Libyans may soon voice their frustrations, escalating tensions and uncertainty across the nation.
Libya's Central Bank leadership crisis deepens as opposing political factions reject dialogue, fueling an economic impasse. With oil output halved and conflicting narratives from former and current leaders, the nation faces a ticking time bomb for its economy.
August has seen escalating crises in Libya, with a fuel blockade crippling oil production and political tensions rising amidst contested elections. The National Oil Corporation faces pressure as competing factions threaten stability, while UN efforts to mediate remain untested and uncertain.
Libya faces a precarious future after a Central Bank takeover and an oil blockade, igniting fears of potential conflict and further economic collapse. With key stakeholders divided, this article examines what happened and what's next for Libya.
The recent Cairo meeting between Libya's HoR and HCS has sparked renewed hope for a unified government, gaining support from various stakeholders. As Misrata pushes for political reconciliation, the UN emphasizes an inclusive electoral process, while distrust remains towards the current leadership.
Despite a minor blowout in July, Libya's NOC is steadily increasing oil production, reaching 1,276,344 barrels per day. With projections of 1.5 million barrels daily by mid-2025, the focus remains on reviving old wells and exploring new opportunities in resource-rich regions.
A U.S. delegation, led by AFRICOM leaders, engaged with key Libyan figures to enhance counterterrorism and military collaboration, aiming to counter Russian influence. As Libya's political landscape shifts, the U.S. seeks strategic partnerships to address complex security challenges.
The National Oil Corporation (NOC) says a new pipeline from the North Hamada oil field will help it meet short-term development targets, as it continues working towards the ambitious goal of bringing Libyan crude production to 1.5 million bpd by 2025 and 2 million bpd by 2027.
In spite of turbulent political times for Libya and its energy sector, there are positive developments regarding the signing of new contracts and the continuation of small-scale works to gradually increase the country’s oil output.
