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Title: Strengthening Libyan-American Oil Partnerships: A Strategic Outlook

Libya, 24th Oct 2024 - The Libyan-American Trade and Investment Council has highlighted key strategies to enhance cooperation in the oil sector between Libya and the United States. Mustafa El Manea, a council member, emphasizes the importance of infrastructure development, partnerships with U.S. companies, legal reforms to attract investment, and the creation of special economic zones. These measures aim to boost Libya’s oil production and secure reliable energy supplies for global markets, reinforcing the bilateral relationship.Amid the volatile situation in the Middle East and rising geopolitical tensions, Libya plays a pivotal role in securing global oil supplies. Although the United States has become less reliant on foreign oil due to increased shale oil production, the need for high-quality, stable oil from regions outside the Middle East persists. In this context, Libya’s importance as an oil exporter may increase, especially for the United States and Western countries that are seeking sustainable and secure alternatives away from areas of growing tension.Despite its internal challenges, Libya presents a strategic opportunity to fill this gap. Given that Libyan oil is known for its high quality and relatively low production costs, it could become a key alternative to Middle Eastern oil.  Amid efforts to develop economic relations between Libya and the United States—most notably through the activation of the Trade and Investment Framework Agreement (TIFA) between the two countries and the imminent launch of the Libyan-American Trade and Investment Council—along with the National Oil Corporation’s (NOC) endeavors to increase Libya’s oil production to 2 million barrels per day, Libya can provide reliable supplies to global markets, including the U.S., particular...

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