Libya oil and gas map, cropped

Bonfire of the billions: How Libya is squandering its hydrocarbons inheritance


In depth
Issue 521 - 20 Feb 2025 - By John Hamilton | 9 minute read

A catastrophic decline in oil sale revenues transferred to the state treasury, which cannot be explained by normal market factors, threatens to undermine the already shaky foundations of Libya’s governance.

African Energy’s analysis of recently released data suggests that uneconomic barter deals, smuggling, mismanagement and corruption have cost the country tens of billions of dollars in the past three years, writes John Hamilton.

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