Showing posts with label National Oil Company (NOC). Show all posts
Showing posts with label National Oil Company (NOC). Show all posts

Tuesday, March 3, 2015

Libya: Getting Geneva Right


Middle East and North Africa Report N°157

EXECUTIVE SUMMARY
Libya’s deteriorating internal conflict may be nearing a dramatic turning point. Over six months of fighting between two parliaments, their respective governments and allied militias have led to the brink of all-out war. On the current trajectory, the most likely medium-term prospect is not one side’s triumph, but that rival local warlords and radical groups will proliferate, what remains of state institutions will collapse, financial reserves (based on oil and gas revenues and spent on food and refined fuel imports) will be depleted, and hardship for ordinary Libyans will increase exponentially. 








(PIX: AFP PHOTO/ABDULLAH DOMA)
Radical groups, already on the rise as the beheading of 21 Egyptians and deadly bombings by the Libyan franchise of the Islamic State (IS) attest, will find fertile ground, while regional involvement – evidenced by retaliatory Egyptian airstrikes – will increase. Actors with a stake in Libya’s future should seize on the UN’s January diplomatic breakthrough in Geneva that points to a possible peaceful way out; but to get a deal between Libyan factions – the best base from which to counter jihadis – they must take more decisive and focused supportive action than they yet have.