Browsing Tag

Oil

Libyan oil and gas revenues plummeted by 92% in 2020

Official statistics have shown that because of the blockade enforced on oil facilities by Haftar forces, Libya's oil revenues decreased by 92% last year, a steep plummet that played a massive role in debilitating the economy by cutting off…

Oil prices rise as UK begins vaccinating against Covid-19

Oil prices have risen due to the United Kingdom commencing its vaccination against Coronavirus this week.The oil market also received support from the reports that Canada approved a vaccine this week and the United States may soon…

Ongoing conflict will cost Libya 1 trillion dollars

According to a study by the United Nations Economic and Social Commission for Western Asia (ESCWA), the ongoing Libyan conflict will cost the country one trillion dollars in lost income.The study which is dubbed 'Economic Cost of the…

Brega reassures citizens of the availability of oil

The oil marketing company Brega reassured citizens today, that the fuel tanker Anwar Libya is preparing to dock in Tripoli seaport with a load of 34 million litres of fuel.The company clarified in a statement on its official Facebook…

Make Libyans pay for bombing them

President-Elect Joe Biden has made the much-celebrated decision of having an all-female White House Communications team and named Neera Tanden his pick for the office of Budget and Management.However, Neera Tanden, the president of the…

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…

The brewing war for Libya’s oil revenues

Recently, the National Oil Cooperation has taken the unexpected step of denying the Central Bank of Libya access to any oil revenue, the move was stated to be for the sake of guarding the country's oil recovery and the protection of the…

Brega Oil drivers on strike after attack

The drivers of the Oil Marketing Company, Brega, are staging a strike because of the repeated attacks on the fuel vehicles.The company appealed through its official Facebook page to the security authorities to assume their…

Total SA to increase investment in Libya’s oil fields

In a meeting that took place virtually between the head of the National Oil Institute (NOC), Mustafa Sunallah and Total’s head of exploration and production in the Middle East and North Africa Stephane Michel, the French company expressed…

Libya’s oil production exceeds 1 million barrels per day

Libya’s oil production has surged past 1 million barrels a day, national petroleum officials said on Saturday, marking an important milestone months after its civil war almost choked the country’s energy production.Libya has been…