Tag: Libya
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Libya’s oil production rebounds as political accord eases crisis
Libya’s oil production has rebounded sharply, reaching 1.13 million barrels per day on Tuesday, just days after the country’s eastern-based government lifted a blockade on oil fields and ports, the state-owned National Oil Corporation (NOC) reported. The revival follows a political agreement brokered by the United Nations to resolve a dispute over control of the…
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Brent Oil Falls to $70.4 Amid Libyan Production Recovery News
๐ฑ๐พ๐ขBrent Oil Falls to $70.4 Amid Libyan Production Recovery News Brent crude oil futures for December delivery have dropped by 1.88%, reaching $70.35 on the ICE exchange. WTI futures for November delivery are also seeing a decline, down 1.76% to $66.96, while December WTI futures have dipped to $66.62 per barrel. The drop in prices…
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Libya rivals ink UN-backed deal on new central bank leadership
Representatives of war-torn Libya’s rival administrations on Thursday signed an agreement to name a new governor for the beleaguered central bank that could restore economically vital oil production, the UN said. Tensions and violence have risen since early August around the central bank in oil-rich Libya, which is split between a UN-recognised government in the…
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Libya thwarts smuggling attempt of 100 kg of gold, 1.5 mln euros
Libya’s Internal Security Agency said on Saturday it had thwarted an attempt to smuggle 100 kg (220 lb) of gold and 1.5 million euros at Misrata international airport during a security check of an international flight. The gold bars were found in three suitcases while the money was in one suitcase. The suitcases were spotted…
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Turkey interested in Libya’s offer of offshore exploration, says energy minister
Turkey is interested in an offer from Tripoli to carry out energy exploration offshore Libya, Turkish Energy Minister Alparslan Bayraktar said on Wednesday. “Libya has offered to us to work with our seismic vessels offshore. Frankly, we are warm to this. So we can be in the Libyan offshore to carry out seismic work,” he…
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Libya: A Dispute for Africaโs Largest Foreign-exchange Reserves
Amid the chaos of Libyaโs long-sputtering civil war, the central bank in Tripoli, the capital, has stood strong. Its red-and-white striped faรงade, crowned with two turquoise cupolas, a throwback to the days of Italian colonisation, were unscathed. Sadiq al-Kabir, the bankโs governor appointed after Muammar Qaddafi was toppled in 2011, survived two civil wars and…
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Three Libyan oil fields receive instructions to resume production, engineers say
Libya’s Sarir, Messla and Nafoura oilfields have received instructions to resume production, engineers at the three fields told Reuters on Saturday, after a standoff between rival political factions shut most of the country’s oilfields. The resumption order was made by the fields’ operator, the Arabian Gulf Oil Company, which did not provide any reasons, according…
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Central Bank officials flee Libya
The head of the Central Bank of Libya, Sadiq al-Kabir, and other senior officials left the country to save their lives and those of their families. The militias threaten and terrorize bank employees, and sometimes kidnap children and relatives to force them to go to work,” al-Kabeer said.
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Libya, Morocco, and Seychelles lead Africa in ICT development
Libya leads the continent with an impressive ICT development index score of 88.1, followed closely by Morocco with a score of 86.8 and Seychelles at 84.7, media reported, citing a recent report by Statisense. The report evaluates nations based on their Information and Communication Technology (ICT) infrastructure, accessibility, and usage. Other strong performers include Mauritius,…
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