Libya’s Politics Catch Up With Oil Sector

After a period of disconnect that allowed oil output in Libya to recover in spite of a deteriorating political situation, a further escalation in the struggle between two rival governments coincided with an attack on the Sharara field, re-establishing the nexus of politics and oil.

Libya took two giant steps further down the road towards anarchy this week, with the Supreme Court turning against the elected government, and militants occupying one of the country’s largest oilfields.

The Supreme Court on 6 November ruled against the House of Representatives, the parliament that emerged from elections held in June, declaring that the formation of the new parliament had been unconstitutional. Two days earlier, gunmen seized control of the Sharara oil field in south western Libya, shutting in around a third of the country’s current crude output. (CONTINUED - 1083 WORDS)