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Commodities Briefing - Categorized | Market Pulse, Oil more

Libya’s oil may be its downfall

Posted on 12 November 2013

The self-declared government of Cyrenaica, a district in eastern Libya, said it established its own oil company that’s ready to put crude oil on the international market. Libya since Moammar Gadhafi’s dictatorship ended in 2011 has struggled to return to the level of stability he ensured with an iron fist.
Now, one of Africa’s leading oil states is tearing apart at the seams defined largely along the divisions suppressed during Gadhafi’s autocracy. With 48 billion barrels of proven oil reserves at stake, what’s next for Libya may have less to do with political reform than it does with who controls the oil spigots………………………………………..Full Article: Source


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