Skip to main content

Author: LS

The National Oil Corporation is considering resuming BP’s exploration activities in Libya in accordance with the 2018 agreement

Written by LS on . Posted in News. No Comments on The National Oil Corporation is considering resuming BP’s exploration activities in Libya in accordance with the 2018 agreement

The Chairman of the Directors Board of National Oil Corporation, Mustafa Sanalla, met with BP Executive Vice President Gordon Birrell (Executive Vice President of Production and Operations).

The meeting dealt with discussing the resumption of BP exploration inside Libya, and the two parties also agreed to resume exploration activities in Libya in accordance with the 2018 agreement reached by the National Oil Corporation, BP and Eni.

The discussion of the strategy of gas development in Libya with the National Oil Corporation was discussed at a high level with the British Oil Company. The joint interest in the development and production of gas to increase the supply of the European market, should ensure the mutual benefit of both the growth of the Libyan gas market and the strategic commitment of BP towards Libya .

As the key to this development strategy is the fundamental reduction of carbon waste and the expanded development of brown-to-green power generation and distribution projects thus maximizing international gas sales in the country.

An oil source reveals to the details of the export stop with a number of ports

Written by LS on . Posted in News. No Comments on An oil source reveals to the details of the export stop with a number of ports

An oil source said that temporarily stop export to the ports of Brega, Zuwetina, Ras Lanuf, Zawia, Mellitah and Sidra, does not affect and cause losses.

According to the source, these circumstances occur in all countries of the world and not only Libya, because the subject is out of the will of the customer and the seller, with its discontinuity to more than 48 hours in the worst case.

The oil institution has announced yesterday to temporarily stop the export from the ports of Brega, Zuwetina, Ras Lanuf, Zawia, Mellitah, Sidra because of bad weather along the Libyan coast.

Adapted from Sada Website

Husni Bey talks about the unified salary schedule and wonders about the value of the dinar

Written by LS on . Posted in News. No Comments on Husni Bey talks about the unified salary schedule and wonders about the value of the dinar

The Businessman Husni Bey said that a unified salary scale proposed by the government is estimated at 60 billion dinars annually for 2.3 million government employees.

He wondered about its effect on increasing prices on 1.5 million unemployed Libyans, saying: “Why didn’t the dinar value increase ( $ 20% (3,650)) so that the interest would return to 7 million Libyans instead of the collapse of its value ?”

Libya sends one million barrels of oil to the Chinese capital, Beijing

Written by LS on . Posted in News. No Comments on Libya sends one million barrels of oil to the Chinese capital, Beijing

A giant tanker docked in the port of Tobruk today, Thursday, to ship one million barrels to the capital, Beijing. China is also the largest importer of Libyan oil in Asia, as it accounts for about 4% of the total supplies.

The daily production of the southern part in the city of Benghazi has reached 240 thousand barrels. Shipments and exports are carried out in accordance with preventive measures to combat the Corona epidemic.

The increase in total energy production led to an increase in daily production by 1.25 million barrels.

Adapted from CNN Agency

The ministry of Economy meets with banks to discuss the funding sources for small and medium projects

Written by LS on . Posted in News. No Comments on The ministry of Economy meets with banks to discuss the funding sources for small and medium projects

The Department Director of the Economic Studies and Reforms at the Ministry of Economy and Trade Hussein al-Amami stated that during the ministry’s meeting with a number of banks: « An expanded meeting was held under the chairmanship of the Economy and Trade Minister Mohammed al-Huwaij and a number of directors, led by the Authority of Investment Promotion, Privatization Affairs and the National Program for Projects SMEs, the Credit Guarantee Fund, and the Insurance Supervision Authority.

He added: “The issue is related to the search for additional funding sources for small and medium projects. A number of topics were discussed and some obstacles that stand in the way of project implementation, especially for young job seekers who have ideas for project implementation”.

He continued by saying: “It was agreed to facilitate all the difficult procedures that stand in the way of implementing projects, by preparing a comprehensive guide that applies to all specialized banks and insurance companies, as the ministry made serious proposals regarding the establishment of investment funds between insurance companies and private banks to support the program of granting credit and loans in order to achieve an increase in the GDP, diversify sources of income and improve the level of citizens”.

Adapted from Sada Website

The liquidity team reveals the arrival of 19 million to the city of Kufra

Written by LS on . Posted in News. No Comments on The liquidity team reveals the arrival of 19 million to the city of Kufra

The liquidity team of the Central Bank of Libya revealed that a liquidity shipment worth 19 million to the city of Kufra coming from the Central Bank of Libya in Tripoli, within the framework of its plan to provide liquidity in all branches of commercial banks.

12 million were allocated to the Jumhouria Bank branch, 5 million to the North Africa Bank branch, and 2 million to Wahda Bank. These shipments come within the framework of a plan to provide liquidity in the regions of southern Libya on a regular basis.

Adapted from Sada Website

Al-Lamoushi reveals the approval of some institutions and banks to finance a number of projects

Written by LS on . Posted in News. No Comments on Al-Lamoushi reveals the approval of some institutions and banks to finance a number of projects

The Chairman of the Directors Board of the General Authority for Investment and Privatization Affairs, Jamal Al-Lamoushi, meets with banks, insurance companies, financing institutions in general, and agencies affiliated with the Ministry of Economy.

According to Al-Lamoushi, the meeting dealt with standing up to the complications facing financing, projects and investment in Libya, adding that many approvals have been taken from banking institutions and public and private commercial banks to start a number of projects.

Al-Lamoushi continued by saying: “We are happy to hear this news from investors and businessmen for obtaining financing, and we wish them success in their program and fulfill their obligations towards these financial and banking institutions, because one of the obstacles and problems facing banks in financing projects is the lack of a real estate registry to grant documentary documents indicating that Guarantees and mortgages that may be offered against any financial financing and on the other hand, in order to open the door to others”.

He added: “We are in need to increase the number of investment and private projects so that we can get out of the bottleneck. We are facing a major problem in the national economy, which has a major distortion and needs to be treated. This will be only by giving chances to businessmen and investors, establishing promising economic projects, factories and companies, supporting the national program for small and medium enterprises, taking the hand of youth, graduates, job seekers, and guiding the state sector to free economic work away from state institutions”.

Adapted from Sada Website

Sanalla discusses with Honeywell UOP how to contribute to oil and gas sector projects, and especially the South Refinery project

Written by LS on . Posted in News. No Comments on Sanalla discusses with Honeywell UOP how to contribute to oil and gas sector projects, and especially the South Refinery project

The Chairman of the Directors Board of the National Oil Corporation, Mustafa Sanalla, met today, Thursday, with the American company Honeywell UOP in the British capital, London.

The meeting discussed the company’s contribution to the oil and gas sector projects, foremost of which is the project to establish the South Refinery, as well as the development of the Tobruk refinery for the production of car gasoline, as well as the company’s contribution to the establishment of manufacturing workshops in Libya, where the company expressed its desire to participate in all projects, beginning with the South Refinery project.

Details of the field of work and implementation contracts will be discussed in the coming days. It is worth mentioning that UOP is a leading company in refining and petrochemical technologies and manufacturing briquettes such as refineries, which has a track record of high-quality projects in technologies, manufacturing and construction, in addition to distinguished relationships with its customers in providing technical support during production processes.

The Ministers of Economy and of Finance agree to form a team to identify targeted investment projects in all regions to achieve economic diversification and spatial development

Written by LS on . Posted in News. No Comments on The Ministers of Economy and of Finance agree to form a team to identify targeted investment projects in all regions to achieve economic diversification and spatial development

The Ministers of Finance, Khaled al-Mabrouk and of Economy and Trade, Mohammed al-Huwaij agreed to form a team to identify targeted investment projects in all regions to achieve economic diversification and spatial development, according to the priorities of the stage in the National Unity Government’s action plan, and to collect the required data to be presented to the Council of Ministers to give it sovereign guarantees.

This came during a meeting held at the headquarters of the General Authority for Investment Promotion and Privatization Affairs in the capital Tripoli, today Wednesday, in the presence of the Ministers of Finance and of Economy and Trade, the Chairman of the Authority’s Directors Board Jamal Al-Nuwaisri , the Undersecretary of the Finance Ministry for Institutional Affairs, the Chairman of the Directors Board of the Sahelo-Saharan Bank for Investment and Trade, the representative of Libya in Libyan Islamic Bank, and a number of Business owners and investors, in order to discuss infrastructure and investment development projects in all regions, in implementation of the directives of the Prime Minister in the National Unity Government.

The Minister of Foreign Affairs lays the foundation stone for the Libyan Embassy building in Addis Ababa

Written by LS on . Posted in News. No Comments on The Minister of Foreign Affairs lays the foundation stone for the Libyan Embassy building in Addis Ababa

The Minister of Foreign Affairs and International Cooperation, Mrs. Najla Al-Manqoush, laid the foundation stone of the Libyan embassy building in the Ethiopian capital Addis Ababa, Today, Wednesday, February 2, 2022, which includes, in addition to the embassy, ​​the headquarters of the “Libyan Permanent Mission to the African Union”.

The Director of the African Department at the Foreign Affairs Ministry, Mr. Fateh Bashina, the Office in Charge at the Libyan Embassy in Addis Ababa, Mr. Alaa Al-Tagouri, and members of the Libyan delegation are participating in the meetings of the African Union Executive Council participated in the celebration.

The laying of the foundation stone coincides with the 13th anniversary of Libya’s presidency of the meetings of the General Assembly of the African Union on February 2, 2009.

Her Excellency the Minister, Mrs. Naglaa Al-Manqoush, delivered a speech on this occasion, in which she stressed the importance of the presence of the Libyan Embassy and the Libyan Permanent Mission in Addis Ababa, which hosts the headquarters of the African Union and other regional offices and centers.

She praised the efforts of the African Union to achieve unity among African peoples and countries, to accelerate political, economic and social integration among the countries of the continent, and to strengthen solidarity relations between its peoples.

She also expressed her happiness with the efforts made by the Libyan embassy staff to enhance cooperation relations between the State of Libya and the Republic of Ethiopia, and the services provided by the embassy to citizens.

It is noteworthy that Libya is one of the founding countries of the African Union, where the first session of the General Assembly was held in July 2002.