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Home Business

Czech Republic ready to buy Libyan oil now – but Libya needs political stability to increase oil production

bySami Zaptia
January 26, 2024
Reading Time: 2 mins read
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Libya Energy & Economic Summit 22-23 November 2021 – first major in-person energy conference to be held in Tripoli for a decade

(Photo: ECP).

Speaking on one of the discussion panels at the Libya Energy and Economic Summit 2024 (Tripoli, 13 to 14 January) Vaclav Bartuska, Ambassador-at-Large / Special Envoy for Energy Security, Ministry of Foreign Affairs of the Czech Republic told the gathered audience that the Czech Republic was ready to buy oil/gas from Libya.

The panel was discussing Libya’s aim and need to increase its oil production rate from the current 1.2 million barrels a day to 1.5, 2 and 2.5 million in the future.

The panellists were discussing what were the steps Libya needed to take to increase production.

Ambassador Bartuska said that the whole of Europe was looking for alternative energy sources to that of Russia and that Libya had a perfect opportunity to step in as a supplier to Europe – if it can increase its production.

Answering written questions after the Summit from Libya Herald, Ambassador Bartuska said that while he had said the Czech Republic was ready now to buy oil from Libya, it is up to Czech commercial companies to sign supply contracts with Libya’s state National Oil Corporation and not the Czech government.

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He said conditions had to be right for these contracts to be signed.

Ambassador Bartuska also confirmed that he had met with Libya’s Minister of Oil and Gas, Mohamed Aoun, during his Libya visit.

He said the first condition for Libya to increase oil production is political stability.

And when asked how the Czech Republic and the EU can help Libya achieve that stability, he said no one except the Libyans themselves can bring stability to Libya.

 

International representatives make various interventions at Libya Energy and Economic Summit 2024 (libyaherald.com)

Goal to raise production to 2 million barrels per day is linked to developing partnerships with foreign companies: NOC chairman Bendgara (libyaherald.com)

30 to 40 percent of Libya’s area is still unexplored for hydrocarbons: Oil Minister Aoun (libyaherald.com)

Libya Energy Summit is great support to enhance stability and investment environment: Aldabaiba (libyaherald.com)

Attorney General holds press conference to present an overview of cases in 2023 (libyaherald.com)

NOC declares force majeure on Sharara oilfield due to closure by local protesters (libyaherald.com)

Legal case against NOC chairman Bengdara moving forward – court to issue urgent ruling on 22 January (libyaherald.com)

Tags: Czech RepublicLibya Energy and Economic Summit 2024oil and gas

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