With its crude oil production already the subject of various ongoing political divisions since the onset of civil war in 2011, another rift has opened up, this time between Libya’s Oil Minister, Mohamed Oun, and the chairman of its National Oil Corporation (NOC), Mustafa Sanalla. Whether or not this specific spat is resolved quickly, the emergence of another major fault line in Libya’s oil sector is likely to negatively impact its crude oil production over time, particularly in light of the uncertain investment backdrop that it paints for would-be foreign financing of new oil projects. The current problem between the oil ministry and the NOC began just a few days ago when Oun sacked Sanalla on the grounds that he had gone on a business trip without seeking the ministry’s prior approval. Sanalla has so far ignored his dismissal and has continued with his duties as NOC chairman. Given […]