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Browsing: Khalifa Haftar
- US companies’ entry into Libya will solidify Tripoli’s global oil market wild card role in stabilizing an already weary industry.
- American Chamber of Commerce in Libya (AmCham Libya) has partnered with Energy Capital and Power for the November 8-9 Libyan Energy and Economic Summit in Tripoli.
- Libya boasts of the greatest proven crude oil reserves in Africa totaling 48.4 billion barrels as of 2021.
A new partnership is promising to open doors for US energy companies in Libya, the frontier that is becoming the world’s oil market wild card. The move will further solidify the North African country’s oil industry’s pivotal role in stabilizing an already weary global energy market.
Libya’s oil market wild card status
While Libya is a member of the Petroleum Exporting Countries (OPEC) oil cartel, the country is enjoying oil market wild card status. Internationally, Libya is not bound by OPEC’s crude output caps due to …