Libya’s Government Plots Route To Oil Riches

Plans by Libya’s elected government to set up a new National Oil Corporation and Central Bank put it further down the path towards civil war and a breakup of the country.

Libya’s elected government is seeking to replicate existing state institutions in order to gain access to the country’s oil revenues, which would give it the upper hand in the struggle against an Islamist movement in control of the capital Tripoli. These efforts are likely to be opposed by the international community, amidst fears that current tension could escalate into civil war and a break-up of the country. But the government made some progress on its plans this week, when its newly appointed head of the National Oil Corporation (NOC) was accepted as a delegate to OPEC in Vienna. Al-Mabruk Bou Seif was introduced to the press as the new NOC chairman by Deputy PM ‘Abd al-Rahman al-Tahir on 26 November. By taking part in the OPEC meeting the following day, he affirmed his government’s claim over Libya’s oil resources. (CONTINUED - 1384 WORDS)