The French website Africa Energy reported on Monday that Libya is renegotiating a controversial oil export agreement in an attempt to stop the financial crisis.
The website stated that the Government of National Unity may seek to renegotiate controversial and unfavorable deals, such as the production-sharing agreement between the National Oil Corporation and Arcano Oil, a company affiliated with Saddam Haftar. However, with government spending spiraling out of control, the devaluation of the dinar, and escalating tensions between armed groups, the outlook appears troubling on all fronts, according to the French outlet.
