Libyan protests
308 mots
2 pages
Libyan protests pose energy threatIntroduction
• Oil prices have hit their highest levels in 2.5 years because of the violence in Libya. • Since the protests began, the price of Brent crude oil traded in London has risen by 15%. • But what exactly is in stake in Libya?
Plan
• 1)Lybia oil facts • 2) The conflict in Lybia • 3) The consequences on oil economy
Presentation of Libya
Leader : Muammar Gaddafi, since 1969 Population (million inhabitants): 6.41 Median age: 24.2 years old GDP: 63rd: 77,912 million dollars Corruption score: 146/178
1) Libya oil facts
• • • • 12th oil producer in the world Member of the OPEC oil producers' cartel Production: 1.8 millions barrels per day Low cost of production (less than 1$ per barrel) • Supplies 22% of Italy's crude oil • China gets 3% of its crude oil from Libya
2) The conflict in Libya
• Began on February, 15th • Inspired by the uprisings in Tunisia and Egypt • « the protest movement is no longer a protest movement, it's a war. »
• Protests have centred on Libya's two largest cities • The government reacted by sending elite troops and mercenaries • By 20 February, more than 200 people had been killed in Benghazi. (640 today, according to the Human Rights Watch).
3) The consequences of the protests
• a) On brent crude oil • http://www.opec.org/opec_web/en/ data_graphs/40.htm
• b) On the economy • French oil giant TOTAL said it started to wind down its operations, producing 55,000 barrels a day in the country. • Same situation for Italy’s Eni
• Market reactions: • European shares fell on Thursday: In one week, the CAC 40 has lost 3.5%. • Lost of the confidence in the markets. http://abcnews.go.com/Business/libya-turmoil-equals-higher-gas-prices-consumers/story?id=12969136 http://www.youtube.com/watch?v=bO_zzeb8LJY