In Libya, the recent declarations of the Minister of Investment, Ali Saïdi, addressed to the Eastern government (not recognized by the international community), have provoked reactions in the West. On the sidelines of a forum which took place in May in Kazan, Russia, he called for strengthening the economic partnership with Russia in different areas. He also affirmed that his government’s contacts with Moscow are permanent and that Eastern Libya seeks to establish a strategic partnership with Russia. After strengthening its military presence, Moscow intends to reestablish itself economically, especially in the oil sector.
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There Libya needs investments, it is fertile ground for Russia, indicated the Libyan Minister of Investments of the Eastern government, specifying that the invitation is open to all Russian companies to invest in energy, agriculture, industry, health and education. At the same time, he refused the American presence in Libya, more visible in the West.
A new refinery?
According to Russian media, the minister more specifically proposed to the Tat Neft company to build a refinery in eastern Libya: The land, the project and the authorization exist, he declared. This project has been pending execution for more than ten years.
The National Oil Corporation, responsible for energy issues in Libya, protested against these comments, recalling that it is the only one responsible for handling contracts with international companies. Libya “ does not need such a partnership, it is capable of building new refineries » with Libyan oil companies, was the response.
Two million barrels per day
Libya has the largest oil reserve in Africa. It dethroned Nigeria in April 2024, passing this country in terms of production. It aims to produce two million barrels per day and is preparing to deliver a series of authorizations to international companies active in the field.
According to several Libyan observers, the Russia seeks to expand its economic influence alongside its military presence in Libya. Russian oil companies Gazprom and Rosneft are already present in Libya. Moscow is seeking to revive old projects in the field and launch new ones in the gas sector.
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