Oil giants returning to Libya after over a decades suspension

Shell and BP, two major oil corporations, have announced that they will reopen their offices in Libya’s capital before the end of 2025 after several years of suspension, according to the Libya Observer on July 8th.

Two agreements were signed in London in the presence of the Chairman of Libya’s National Oil Corporation, who said that the return of Shell and BP to Libya is a key step towards revitalizing the country’s oil sector.

Oil is an essential part of Libya’s economy with the nation having the largest oil reserves in Africa, and the industry has been politicised by the two rival administrations.

Libya Observer/Maghrebi