Browsing Tag

CBL

Sirte Oil Company halts production due to lack of funds

Due to a lack of sufficient funds, the Sirte Oil Company (SOC) declared that it would be unable to continue producing oil, resulting in a 72-hour production halt. This was revealed in a letter from the company's Chairman of the Board of…

NOC declares force majeure on Al-Hariga oil port

Libya's National Oil Corporation (NOC) declared a state of force majeure as of April 19 on Al-Hariga oil port and ceased all production and export of crude oil shipments through the port.According to a statement issued by the NOC, the…

Family dollar relief grant relaunched

The head of the family dollar grant in the central bank of Libya Salem al-Siwi announced in a televised statement this Wednesday that the grant will be opened this coming Sunday to complete 2019 allocations.The family dollar grant is a…

Outcome of emergency oil revenue meeting

In a press release, the Presidential Council of the Government of National Accord (GNA) said that the meeting addressed the consequences of freezing the oil revenues and that the best interest of the Libyan people was put above all else.…

Libya’s black market exchange rate reaches record numbers

Foreign currency exchange rates in the Libyan black market have reached record numbers for the first time in years.The dollar on Monday night spiked to 7.03 LYD, a 4.56% increase, which is a number it hasn't risen to since 2017.The…

Budget worth 38.5 billion dinars approved for 2020 in Libya

The Libyan Government of National Accord (GNA) approved Tuesday the 2020 budget and financial arrangements as worth 38.5 billion dinars. The passing of the budget came right after a meeting at the headquarters of the Central Bank of…

Libya’s central bank drops dollar purchase fees to 163%

The Libyan Presidential Council on Tripoli of the Government of National Accord (GNA) announced on Tuesday that it will cut the fee on sales of dollars and other foreign currencies to 163% from August 04.The GNA, together  with the…