Business

Libya’s oil production soars to 750.000 bpd, GNA deputy head says

  • 14 January 2017 - 21:22
Libya’s oil production soars to 750.000 bpd, GNA deputy head says

The Deputy Head of the Presidential Council of the UN-brokered Government of National Accord (GNA) Ahmed Mitig said Libya's oil production has increased hitting 750.000 barrels per day (bpd) on Friday. Mitig added, in a presser on Friday, that the Libyan oil production had recovered so well...

Libyan Investment Authority wins appeal against Presidential Council

  • 11 January 2017 - 01:59
Libyan Investment Authority wins appeal against Presidential Council

The Second Administrative Division of Tripoli Appeals Court has ruled that the Interim Steering Committee of the Libyan Investment Authority (LIA) that was formed by the Presidency Council was illegal, a lawyer has confirmed. The lawyer of the Libyan Investment Authority, Saleh Almgeli, said the...

Libya’s oil output jumps over 700.000 bpd, NOC says

  • 9 January 2017 - 19:41
Libya’s oil output jumps over 700.000 bpd, NOC says

The Libyan National Oil Corporation (NOC) said Libya's oil production had exceeded 700 thousand barrels per day (bpd) on Monday, after major problems in Al-Zawiya Oil Refinery were resolved. After the reopening of Al-Sharara oilfield that has a capacity of oil production at 330 thousand...

GNA declares force majeure on Al-Zawiya and Zuwara ports to stem fuel smuggling

  • 8 January 2017 - 13:02
GNA declares force majeure on Al-Zawiya and Zuwara ports to stem fuel smuggling

The Libyan UN-backed Government of National Accord has decided to declare force majeure on two ports in a bid to stop fuel smuggling from them, a statement from its Presidential Council indicated on Saturday, according to Reuters. The statement gave no details on when the measure would come...

NOC declares Al-Zawiya refinery void of armed forces

  • 7 January 2017 - 19:26
NOC declares Al-Zawiya refinery void of armed forces

After the National Oil Corporation's Chairman accused the Petroleum Facilities Guard (PFG) of fuel smuggling, the PFG has removed itself from Al-Zawiya refinery, the NOC said in a statement Friday. On Thursday, Mustafa Sanalla, the chairman of NOC accused the commander of Al-Nasr brigade – the...

Libya’s oil production nears 700,000 bpd, NOC announces

  • 3 January 2017 - 21:18
Libya’s oil production nears 700,000 bpd, NOC announces

The Libyan National Oil Corporation (NOC) said Libya's oil production had exceeded 685 thousand barrels per day (bpd) on Sunday. The Chairman of the NOC, Mustafa Sanallah, attributed the remarkable gearing forward of the oil output to the recent reopening of Rayaina pipelines that are...

GNA and CBL agree to coordinate to overcome economic downslide

  • 31 December 2016 - 19:48
GNA and CBL agree to coordinate to overcome economic downslide

The Middle East Monitor - Libya’s Government of National Accord (GNA) and central bank in Tripoli say they have agreed to work together to tackle urgent economic problems in 2017, creating a potential lifeline for the UN-backed GNA. The government has struggled to extend its authority...

Libyan, Italian aviation agree on building mobile air traffic control tower at Mitiga Airport

  • 28 December 2016 - 19:39
Libyan, Italian aviation agree on building mobile air traffic control tower at Mitiga Airport

The Minister of Transportation at the Government of National Accord (GNA) Milad Matoug, said Libyan aviation authority had signed a deal with the Italian counterpart to install a mobile air traffic control tower to replace the old one in Mitiga Airport in Tripoli. According to the Ministry...

Sharara oil field output reaches 63 thousand bod, NOC confirms

  • 24 December 2016 - 18:03
Sharara oil field output reaches 63 thousand bod, NOC confirms

The Chairperson of the National Oil Corporation (NOC) Mustafa Sanallah confirmed Friday that the production of the newly reopened Sharara oil field in western Libya reached 63.000 barrels per day (bpd). "We have not been able to operate and reopen Al-Feel oil field in western Libya as well...

Oil prices fall as US inventories and Libya’s production ramp up

  • 22 December 2016 - 12:38
Oil prices fall as US inventories and Libya’s production ramp up

Reuters - Oil prices slipped in tepid Asian trading on Thursday, dragged down by an unexpected rise in U.S. crude inventories last week and moves by Libya to boost output over the next few months. But the fall was curbed by a weaker dollar and optimism that crude producers would abide by an...