Libya's Surprise Oil Minister Change Throws Spotlight on Output.

The recent replacement of Libya's oil minister may have positive implications for the country's energy sector, but challenges remain for international firms due to the fragmented political landscape. The suspension of Oil Minister Mohamed Oun, who is being investigated for alleged violations, has led to the appointment of Khalifa Abdul Sadiq from the National Oil Corp. This move could potentially align the NOC and the ministry, leading to a short-term revival of the sector. However, ongoing political feuds in Libya could still disrupt the industry. Libya holds Africa's largest crude reserves, but political strife has hindered its oil production. The ousting of Oun could remove obstacles to recent agreements with foreign players, but the Tripoli-based government may still face resistance in implementing new deals. To achieve sustained higher output, Libya will need lasting peace, political stability, and sustained investment. [Extracted from the article]