| Reports
Oil Price: Russia Seeks to Oust European Oil Companies by Exploiting Libya’s Vast Oil Reserves
The oil-focused website Oil Price reported on Saturday that Libya, the largest oil producer in North Africa, is once again making headlines, particularly in light of the ongoing struggles within the OPEC market.
According to the report, while Europeans view Libya as a potential energy source for their industries amid the European oil crisis, Libya continues to produce significantly less than its historical levels. Steps are being taken to increase production substantially in the coming years. Meanwhile, Moscow is crafting a new major strategy, not only strengthening ties with Haftar but also potentially jeopardizing Europe’s energy supplies.
Oil Price highlighted that some experts believe the current discussions between Russia and Haftar have a single primary goal: “subjugating Europe” and enabling Russia to assert control over the future of oil and gas in North Africa. Recent weeks have seen the closure of the Sharara oil field, which has a capacity of 300,000 barrels per day, severely impacting supplies to European clients. About 80% of Sharara’s production is directed to Europe, with major operators including Norway’s Equinor, Austria’s OMV, France’s TotalEnergies, and Spain’s Repsol.
The site noted that Moscow views the potential conflict between Libyan National Army-backed forces and European oil and gas operators as an opportunity to serve Russian interests. Companies like Gazprom or a newly merged Russian entity combining Gazprom Neft and Lukoil could step in. While this might seem far-fetched to Western partners, the power dynamics on the ground in Eastern Libya favor Moscow.
If Russia succeeds, it will not only weaponize Libya’s energy resources but also gain access to the country’s precious minerals and those in Sub-Saharan Africa. Libya has shown increased interest in joining the BRICS group, presenting an economic and political alternative to Western alliances. Libyan officials confirmed this interest during the Russia-Africa Partnership Forum held on November 9–10 in Sochi, Russia, though no formal invitation has yet been extended.
The report further revealed that in the past month, the investigative platform Ikhad reported an increase in Russia’s military presence in Libya. Since March, Russian forces have established multiple air bridges to Brak al-Shati airbase and increased activities at four other strategic military bases: Jufra, Gardabiya, Tobruk Port, and others. This indicates Moscow’s determination to use Libya’s oil and gas regions in the east as a gateway to Africa.
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