Libya: Hormuz Strait Crisis Boosts Appeal of Libyan Oil for Major Companies

Libya – An economic report published by the Gulf Business Outlook website says the crisis in the Strait of Hormuz has boosted Libya’s oil sector.

The report noted that major oil companies are returning to Libya after nearly two decades away. This renewed interest comes as North African oil becomes more attractive amid instability in the Strait of Hormuz.

According to the report, authorities in both eastern and western Libya now share a common goal: maximizing energy revenues. This…