Libyan Oil Faces Renewed Instability

Oil export risks from Libya have resurfaced this week after authorities based in eastern Libya have threatened to blockade oil exports over the Tripoli government's use of energy revenue.

• Osama Hammad, who is heading the rival government in the east accused the National Oil Corporation (NOC) of siding with the UN- recognized Government of National Unity based in Tripoli and giving it access to "seize" $16 billion in oil revenues.
• It comes after nearly a year of relative stability for exports from the country that is aiming to significantly boost its production and is the first major threat to exports in that time. Current production in the country is around 1.2mn bpd which risks falling if exports are shut in like during previous government disputes.
• PM of the GNS Government in Benghazi Osama Hamad on June 26 met with NOC Chairman Bengdara to try and safeguard exports and production.
• Head of the Media Authority in Benghazi Mohamed Omar Bayou to issue a statement refuting Bengdara's account of the meeting & threatening to topple him.
• There are unconfirmed reports by Libya Desk of Bengdara resigning from his position in a potential management shake up of the NOC.