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Can Libya Become A Global Oil And Gas Power Once Again?

By Simon Watkins

  • The decision last week by Libya’s Government of National Unity to approve the sale of Hess Corporation’s stake in the Waha oil concessions could reignite Libya’s oil boom
  • While there may be a short-term drop off in output from Waha, in the long-term it will likely return to their previous impressive levels
  • Ongoing political struggles could hurt the countries oil industry, but recent proposals from the oil and gas ministry on revenue sharing could help reduce those tensions

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