Western countries urge for calm near Zueitina oil terminal

Western countries including the United States, France and Britain said in a joint statement on Wednesday they were concerned by mounting tension around the Zueitina oil terminal in Libya. Washington, Paris, London and the governments…

CNN Money: Libya could be the revival of oil market

One of the biggest mysteries in the oil market resides in the war-torn nation of Libya. A long civil war and the rise of ISIS have limited Libya's oil production to just a fraction of what it was in 2010, before the uprising that…

Ubari receives 3.5 million dinars in cash

The city of Ubari has received today a shipment of LYD 3.5 million sent from Tripoli-based Central Bank of Libya and arrived in Ubari airport. Local sources from the city also said that Brigade 456 in the city secured the arrival and…

Brega Oil Company falsifies lack of gas cylinders

Brega Petroleum Marketing Co. has refuted the rumors that said there is a lack of gas cylinders, confirming Saturday that the vehicles are still supplying the market and stores, which are specialized to distribute this cooking material…

Oil prices make a new leap, the highest in 8 months

Oil prices hit fresh 2016 highs Wednesday (Jun 8) on Nigerian supply concerns and a weaker dollar, as traders awaited energy inventory data from the United States, the world's biggest crude consumer. Oil prices continued their steady…

Presidential Council and CBL form cash crisis committee

The Head of the Presidential Council, Fayez Al-Serraj, met with the Governor of the Central Bank if Libya, Al-Saddiq Al-Kabeer, and agreed to form a cash crisis committee to propose ways out of the exceptional situation of the country.…

World oil prices experience surge unseen for months

Oil held below $50 a barrel in New York and London as global supplies remained adequate despite production cuts in Canada and Nigeria. West Texas Intermediate futures fell slightly in early tradingt, having climbed 4.5 percent the…

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