Business

Turkey deeply concerned over uncertainty of Libya’s oil industry

  • 1 July 2018 - 09:13
Turkey deeply concerned over uncertainty of Libya’s oil industry

Turkey voiced deep concern on Friday over the transfer of Libyan oil fields to a parallel company based in eastern Libya. In a statement, the Foreign Ministry referred to a decision by Khalifa Haftar that oil ports held by his forces would be handed over to a rival oil corporation in the...

Tripoli’s NOC Chairman says US and allies will block illegal selling of Libya’s oil

  • 28 June 2018 - 23:38
Tripoli’s NOC Chairman says US and allies will block illegal selling of Libya’s oil

The chairman of Libya’s National Oil Corporation in Tripoli said he’s confident that the U.S. and other world powers would help block authorities in eastern Libya from exporting any crude after militia captured key ports there, reported Bloomberg. “We are confident the international legal...

Western powers: NOC in Tripoli only legitimate body to control Libya’s oil

  • 27 June 2018 - 19:44
Western powers: NOC in Tripoli only legitimate body to control Libya’s oil

The United States, France, Britain and Italy on Wednesday called on armed factions in Libya to cease fighting and withdraw immediately from oil installations at Es Sider and Ras Lanuf. In a joint statement, the countries said Libya's oil resources should remain under the control of the...

Libya’s Tripoli government calls handover of oil ports to eastern institution “illegitimate and unacceptable”

  • 27 June 2018 - 13:18
Libya’s Tripoli government calls handover of oil ports to eastern institution “illegitimate and unacceptable”

Libya’s UN-backed Government of National Accord warned on Tuesday that any new attempt by a rival administration in the east to export oil independently will be stopped after Khalifa Haftar handed the ports to a parallel oil body in east Libya.  The Presidential Council issued a statement...

French scholar: Haftar’s handover of oil terminals to parallel NOC breaks away with Paris agreement

  • 26 June 2018 - 12:16
French scholar: Haftar’s handover of oil terminals to parallel NOC breaks away with Paris agreement

Khalifa Haftar announced Monday the handover of oil installations under the control of his self-styled army to an administration that rivals Libya’s UN-backed government, after retaking them from militias. The strongman’s announcement came just hours after his “Libyan National Army ”...

Libya’s warlord Haftar hands over oil ports to unrecognized NOC

  • 26 June 2018 - 10:22
Libya’s warlord Haftar hands over oil ports to unrecognized NOC

Khalifa Haftar announced Monday the handover of oil installations under the control of his self-styled army to an administration that rivals Libya's UN-backed government, after retaking them from militias. The strongman's announcement came just hours after his "Libyan National Army " said it had...

Libya’s state oil firm confirms recapture of oil terminals by Haftar’s forces

  • 22 June 2018 - 15:05
Libya’s state oil firm confirms recapture of oil terminals by Haftar’s forces

The Chairman of Libya’s National Oil Corporation (NOC) Mustafa Sanallah confirmed on Friday that Khalifa Haftar’s so-called "Libyan National Army (LNA)" had regained control of the key oil ports of Ras Lanuf and Sidra, saying he hoped operations would resume in the “next couple of...

Libya’s oil production drops to 600.000 bpd from a recent 1 million bpd due to fighting

  • 20 June 2018 - 20:45
Libya’s oil production drops to 600.000 bpd from a recent 1 million bpd due to fighting

Libya’s oil production has dropped to between 600,000 and 700,000 barrels per day (bpd) from more than one million following clashes at its Ras Lanuf and Sidra oil terminals, a Libyan oil source said on Wednesday. The National Oil Corporation (NOC) is looking at options to divert some oil...

Vienna to host summit on Libya’s Oil & Gas Industry

  • 13 June 2018 - 00:38
Vienna to host summit on Libya’s Oil & Gas Industry

Austria is the host of the ‘1st Libyan-European Oil & Gas Summit’, which will be held from 28-29 June 2018 at the Marriott Hotel in Vienna. The agenda not only covers topics like the restoration and renewal of the Libyan oil and gas fields, Libya’s infrastructure and the general...

Governor of parallel Libya central bank opposed to economic reforms

  • 10 June 2018 - 15:57
Governor of parallel Libya central bank opposed to economic reforms

The former governor of the parallel Central Bank of Libya in al-Bayda, eastern Libya, Ali Al-Hibri, said the economic reforms announced by the CBL governor in Tripoli Al-Siddiq Al-Kabeer and the Presidential Council in Tunisia are "harmful" and could lead to the collapse of the Libyan...