Libya and Oil: common sense prevails

On 12 July, Sir Vincent Fean, former UK ambassador to Libya between 2006 and 2010 and chairman of the Libya British Association published an analysis of the ongoing tensions in Libya, sharing his appreciation of the issues at stake and the main Libyan figures. For Fean, the economic potential of Libya is real, and central figures such as the Chairman of the National Oil Corporation (NOC), Mustafa Sanalla, play a significant role in helping Libya increase its economic potential. On that matter, Fean denounces the vested interests ranged against Sanalla as he tries to push forward his agenda for the economic stabilization of Libya, which focuses on putting an end to the system of petrol subsidies inherited from the Qaddafi era. Moving on to political considerations, Fean shares his appreciation of the work made by UN Special Envoy Ghassan Salama, who seems to have a better understanding of the situation than his predecessors, but highlights a lack of adequate preparation to hold elections. In conclusion, Fean advises to follow the examples set by Sanalla and the NOC and calls for more common sense at the political level.Click here to read more.