Description: In this book Judith Gurney documents the way in which the Libyan oil industry has been run under the monarchy and throughout the rule of the Revolutionary Command Council. Surprisingly, despite the volatile nature of the political system under Qaddafi and the US and UN economic boycotts and sanctions against Libya, the oil industry has continued to be run in a low key, matter of fact manner. Equally surprising is that, unlike most OPEC members, the Libyans have always been involved in joint ventures with foreign companies. This pragmatic approach reflects the dependency of the economy on oil gas production. This survey of the political economy of Libya from desert state to oil-rich state concludes that two factors could have a significant impact on the oil industry: the continuance of sanctions over a long period and unpredictable political changes. The book is essential reading for observers of the international oil industry and everyone interested in development.

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