Madrid to host Libyan energy investment forum
LIBYA – An economic report published by the English-language Indian site Trends in Africa has highlighted Libya’s efforts to attract European and American investment into its oil and gas sectors through business meetings and an upcoming forum in the Spanish capital, Madrid.
The report — followed and summarised by Al-Marsad — said more than 70 energy companies will take part in the forum in December, alongside separate talks on US business opportunities in Libya.
It said Libya’s efforts aim to increase production, modernise infrastructure and strengthen international partnerships, noting that the General Union of Libyan Chambers of Commerce has announced that Madrid will host the third edition of the Libyan-European Oil, Energy and Gas Forum.
Events on 2 and 3 December and new partnership opportunities
According to the report, the forum will be held on 2 and 3 December under the patronage of the National Oil Corporation in Tripoli, with international experts taking part in panel discussions exploring development opportunities and the technical and operational support needed to strengthen the oil and gas sector.
The report said it expected the event to encourage the exchange of expertise and partnerships between Libyan companies and international investors. It comes as Massad Boulos, US President Donald Trump’s senior adviser for Arab and African affairs, has held talks with representatives of the US energy company ExxonMobil.
US talks and conditions for turning interest into investment
The report said Boulos’s talks with the company covered US investment opportunities, expanding business activities in Libya and its energy sector, strengthening the presence of US companies in North Africa and deepening economic ties between Washington and Libya.
It quoted Boulos as describing ExxonMobil as a valued partner in Washington’s efforts to open new opportunities for US companies in the region, strengthen economic relations and support prosperity in the United States.
The report concluded that attracting foreign capital, technology and technical expertise is important for developing Libya’s hydrocarbon resources and increasing its production capacity, but stressed that turning investor interest into sustained investment depends on the business environment, regulatory clarity and the ability to implement projects effectively.
