Libya Halts New Oil Deals Amid Public Concerns

On April 5, 2026, Libya's Presidential Council, led by Mohamed Al-Menfi, issued a directive to halt all new agreements concerning developed oil fields. This decision, communicated to Masoud Suleiman, chairman of the National Oil Corporation (NOC), prohibits any new contractual arrangements related to these fields. The move aims to protect Libya's national economy and ensure optimal returns from its strategic oil resources. This action follows Prime Minister Abdul Hamid Dbeibah's earlier suspension of a controversial oil development agreement, citing transparency issues and public backlash. Oil and gas exports are Libya's primary revenue sources, but production has faced disruptions due to ongoing conflict and political instability.