Libya’s first and only private oil firm Arkenu has sought to adopt a more low profile of late, as pressure mounts over corruption scandals involving top officials in Libya’s divided east and west administrations (MEES, 18 July 2025). However, the strategy appears to have failed and on 2 April, Tripoli-based Prime Minister Abdul Hameed Dbeibeh instructed state-owned NOC to suspend a controversial oil deal with Arkenu.
Arkenu was founded in the eastern city of Benghazi in early 2023 (MEES, 14 June 2024), and the controversial company has since amassed a substantial list of assets and partners, securing deals with state firm Agoco and international services giant SLB (MEES, 3 April). (CONTINUED - 1559 WORDS)
